Undelucram.ro aiming EUR 400,000 SeedBlink financing for regional expansion, AI
Undelucram.ro, Romania’s largest online employee community, intends to raise EUR 400,000 through the European co-investment platform SeedBlink. The funds will be used to strengthen international expansion and develop its own artificial intelligence (AI) technology.
The current financing round is backed by GapMinder, which pledged EUR 200,000. This is the third round in which GapMinder invests in Undelucram, the previous financings being in 2021 and 2019. Another investor is Sofia Angels Ventures, a Bulgarian fund investing EUR 400,000.
Undelucram, founded in 2011, has so far attracted investments of EUR 800,000 over three rounds - 2017, 2019, and 2021. The company provides a regional network of online employer branding and recruitment platforms. It provides information about employers, salaries, benefits, and how job interviews are conducted.
The platform has over one million regional users and plans to reach 4.5 million by the end of 2024. The management also aims to have sales in seven countries by the end of 2024. Expansion started years prior.
Undelucram operates in 14 countries: Romania, Bulgaria, Hungary, Greece, Ukraine, Moldova, Czech Republic, Poland, and MENA (Algeria, Egypt, Morocco, Tunisia, Saudi Arabia, and Emirates). The company started to expand regionally in 2019, and as of this year has operations outside Europe.
Undelucram’s platforms are in the local language and dedicated to each country. The community operates on a business-to-business model based on an annual subscription, and the service is for both Employer Branding and Online Recruitment areas. The platform is based on machine learning algorithms and aggregated user data that match the candidates; interests in the job market with those of employers.
“We choose to see the investment in Undelucram as a vote of confidence that once again confirms the growth trend of our company. I invite potential investors who want to maximize their revenues and at the same time contribute to a fair and balanced labor market to participate in this new round opened by Seedblink for the development of new technologies and the consolidation of international expansion,” said Costin Tudor, founder, and CEO of Undelucram Platforms in the press release.
“Undelucram has developed a very scalable growth model in the HR platform space where employers and employees have a new way to engage transparently and match their needs,” added Milen Ivanov, Managing Partner at Sofia Angels Ventures.
“Undelucram has a solution that addresses a very large market in areas left untouched by the big players of the industry,” said SeedBlink’s Andrei Dudoiu. He also noted that the company is well-positioned to drive online recruitment and employer branding.
(Photo source: Undelucram)
