HomeFundingOnline HR startup Workable secures $1.5 million from Greylock

Online HR startup Workable secures $1.5 million from Greylock

Workable, which is one of the startups we’ve just mentioned in our list of 5 Greek Startups to look out for in 2014, has secured $1.5 million in a funding round led by Greylock IL.

Just 12 months after launching, hundreds of companies from all over the world have adopted Workable, which offers a recruiting software that combines the functionality of the best B2B tools with the ease of use of popular consumer websites. Workable raised $950k in seed funding last year from Jeremie Openfund II and private investors.

Based in London and Athens, Workable is used by hundreds of companies across 39 countries. Workable helps small and medium-sized enterprises manage recruiting with simple tools to promote their jobs online, review candidates and schedule interviews. SMEs now account for two-thirds of all new hires in the US, while in Europe the numbers are even higher. Workable is not the only software in this space, but it may be the easiest to use.

“Most of the hiring happens online and companies are looking for tools to promote their jobs and make hiring decisions as a team”, said the startup’s founder and CEO Nikos Moraitakis, who has seen Workable grow by 30% month on month in 2014.

Many venture capital firms are betting on new players like Workable to disrupt the $14 billion HR tech market. Online profiles that are stored online are replacing ‘on paper’ resumes and one-click job applications are becoming commonplace. According to Workable’s usage data, nearly 70% of applicants use a LinkedIn profile instead of a resume, and one in three job applications comes from a mobile device. In this sense, companies need modern tools adapted to this new reality to stay competitive in the war for talent.

This month’s update also allows companies to open up their hiring process to professional recruiters, while tracking where applicants are coming from. This helps companies get the best access to talent while ensuring that recruiters can participate in the outcome of the hiring process.

“We’re aiming to create an online recruiter marketplace that will bring down the cost of hiring for employers, while opening up new business for recruiters”, added CEO Nikos Moraitakis.

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Thomas Ohr
Thomas Ohr
Thomas Ohr is the "Editor in Chief" of EU-Startups.com and started the blog in October 2010. He is excited about Europe's future, passionate about new business ideas and lives in Barcelona (Spain).

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