From the point of view of corporate finance, we analyse the investments made in the technology sector to attract talent through the cases of two platforms born in Barcelona: Job Today, a job search tool, and Talent Clue, a recruitment software for companies.
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From the point of view of corporate finance, we analyse the investments made in the technology sector to attract talent through the cases of two platforms born in Barcelona: Job Today, a job search tool, and Talent Clue, a recruitment software for companies.
Job Today has raised €13.7M from venture capital fund 14W
The online job search platform Job Todayborn in Barcelona three years ago, specialises in job offers for immediate incorporation. Among its services, the start-up also offers the option for its users to create their own CVs and is developing recruitment pages for its clients to include on their websites.
In connection with the transaction, Job Today has raised 16M$ (€13.7M) from New York-based private equity fund 14W. This capital injection is an extension of the series B round the company closed last year. The company will devote most of the newly raised resources to technology and marketing. Its goal is to grow by 40% this year in published offers and improve its monetisation model. Prior to this fund, the firm raised over €30M in a deal led by European media giants RTL Germany and German Media Pool (Germany) and Atresmedia (Spain).
During its short history, Job Today has accumulated 5M users and 450,000 companies on its platform. The key to its success is that Job Today connects two very different and previously isolated audiences: young people and SMEs.
In this sense, 70% of the platform's users are under 35 years old and 35% are under 25 years old. This is a profile accustomed to using mobile phones and sending their CVs via the Internet. Therefore, the idea of Job Today is to eliminate this gap between young employees and SMEs that want to find new ways to contact this young talent through technology.
Before the summer, Job Today closed its Barcelona office with the idea of centralising its customer services in Luxembourg, where it is headquartered. However, the company's founders, Eugene Mizin and Polina Montano, are planning to open a new office in the Catalan capital to cater for technical professionals.
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Talent Clue receives €4M to kick-start its internationalisation
The start Talent Clue located in Barcelona since 2013 has been responsible for designing a digital tool to facilitate the recruitment of talent. Created by Ana Izquierdo and Ivan Sala, this platform has just closed a €4M funding round (in 2015 it obtained a €1.5M funding round) that will allow it to improve its technology and start its internationalisation in nearby European countries such as France, Germany, England and Italy.
The operation is divided into two tranches: a capital increase of €2m and a participating loan of a further €2m. In the first tranche, the following participated Inderhabs (family office of the Botet family, ex-owners of Caprabo), Finaves (a fund that invests in projects by IESE students and alumni and brings together investors, entrepreneurs and the institution's experience to promote new companies) and shareholders who were already present. As regards the loan, it was granted by Avançsathe Generalitat's investee holding company.
The added value that Talent Clue offers the corporate sector is that it allows them to centralise and manage all the candidate offers they receive through different channels (website, LinkedIn, job portals, etc.) on a single platform. The advantages of this methodology are that it speeds up the process, avoids duplicate applications and allows the employer to retain the data of potential candidates for future vacancies.
In addition, the tool installs a space on the website where information about the company's culture is specified and a communication channel is included. This option strengthens the link between the company and the candidate, and helps to fine-tune the final decision in the selection process.
Talent Clue currently prioritises its service to medium to large sized companies because 60% of its turnover comes from large companies in various sectors, i.e. technology, retail, industrial, etc. Its clients include or have included Accenture, Groupon, Applus Idiada, Media Markt or Danone. In relation to its revenues, 90% of its revenues come from Spain, while the rest are from Latin American clients, although as highlighted, its focus for the coming years is expected to be on European markets.
Analysis of the technology sector for international talent attraction
As can be seen, the following table lists five investments by companies using technology to streamline all HR-related functions. Of particular note is Australia's Flare, a software that manages onboarding, payroll and other HR functions, which by the end of the summer had received a total investment of more than 22M$.
| Company | Country | Description | Total amount of investment | Date of the last round |
|---|---|---|---|---|
| ChoiceStream | United States | Specialising in programmatic marketing with personalised audiences, multi-algorithm optimisation, dynamic creative, cross-device tracking and advanced insights. | $84,1 M | 17/09/2015 |
| Templafy | Denmark | Templafy is one of the fastest growing IT companies in Scandinavia and is already changing the way large companies work with Microsoft Word, PowerPoint, Outlook and Excel. | $21,4 M | 13/02/2018 |
| Tailor Brands | United States | Tailor Brands is a revolutionary branding platform that enables customers in over 35 countries around the world to design everything their businesses need effortlessly and at minimal cost. | $20,6 M | 09/05/2018 |
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If you are looking for investors, you want to buy or sell your company or finance your R&D&I project, get in touch with our Corporate Finance experts.
If you are looking for investors, want to buy or sell your company or finance your R&D&I project, contact our Corporate Finance experts.