Recruitment software startup RecruitLab raises €300K to expand to new markets and grow its team. The team are supported by Pipedrive founders Urmas Purde and Timo Rein, Pipedrive’s first investor Peep Vain, and top European angel investors from the investment fund Superangel.
Founded in Estonia is 2020, RecruitLab is a recruiter-centric marketing and applicant tracking software. Its clear user interface, and integrations with recruitment channels (like job boards or social media) give recruiters complete control over their recruitment projects. The platform includes features such as tools for building attractive job adverts, automated interview scheduling, video interviewing. The upside is that these features improve communication with candidates, and cooperation between recruitment teams.
With this round of funding, RecruitLab will expand to new markets and hire new employees. Paavo Heil, the founder and CEO of RecruitLab, explained: “We are changing the way recruiters work, and we are growing fast – for the past six months, our growth (month over month) has been 25%. We have customers from the public and private sectors, from very different fields. DPD, Thermory, Tallink, KPMG, Relancer, Tradehouse, Brandem just to name a few. Interest in recruitment automation is growing all over the world”.
One of the founders of Pipedrive, Urmas Purde, said he believes in the experienced team at RecruitLab and their vision to change the way recruiters and hiring managers work: “The process of recruitment should be easier and more efficient, and I am sure that RecruitLab’s team can change the way talent acquisition is approached”.
Marek Kiisa, the managing partner of Superangel added: “Superangel’s investment into RecruitLab, the first HR company in our portfolio, stems from our belief that virtually every sector will become software and AI-driven in the next decade. The strong expertise and bold vision of the founding team combined with the market opportunity creates an excellent opportunity for RecruitLab to achieve 10x growth and set a new standard for the industry.”
According to Paavo Heil, recruitment has changed dramatically in recent years. Without the help of technology, it is complicated, time-consuming, and often impossible to efficiently manage the recruitment process. “However, it is estimated that more than half of the world’s recruiters still use Excel, Outlook, Skype, and other applications for recruitment that aren’t initially designed for this purpose. Also, many old candidate management platforms have not been able to keep pace with rapid change. All this increases the workload and stress of recruiters,” said founder and CEO Paavo Heil.
RecruitLab already competes with companies like Workable, Lever, and Teamtailor, among others. Based on customer feedback, it saves, on average, 50% of the time spent on recruitment by automating repetitive tasks and offering easy-to-use and modern recruitment tools.
“Occasionally, it feels like recruiters have been pushed to the very edge of their abilities to fulfil the employer’s needs and grant the candidates’ wishes by offering the best candidate experience. We aim to focus on the recruiter experience. This is because unhappy and stressed recruiters without suitable technology supporting their workflow aren’t able to offer highly-valued positive candidate experience,” said founder and CEO Paavo Heil.