Sloneek, a Czech-Slovak startup that provides an innovative all-in-one HR solution, has raised €3.6 million from a group of investors to fuel its expansion into Western Europe.
This is the largest investment to date for Sloneek, the fastest-growing B2B SaaS HR startup in the Czech Republic. Leading the current late-seed round is fund Purple Ventures II, joined by Venture to Future Fund and Vision Ventures, a repeat investor.
In 2022, Sloneek raised €1 million from Presto Ventures and Vision Ventures, and in 2020 it received €350,000 from Vision Ventures. The new funding comes at a time when Sloneek is experiencing more than triple annual growth, expects revenues in the high single-digit millions of euros this year, and has doubled its client base – with most new clients now acquired outside of the Czech Republic.
“The investment comes at the perfect time. Companies are getting ready for a new era – over half of the productive workforce now consists of Millennials and Gen Z. This presents opportunities for more efficient work, but also risks if companies fail to adapt and manage this change. People are, without exaggeration, the alpha and omega of any economy’s success, and we have the chance to elevate how we work with them to a whole new level,” said Filip Lukac, CEO of Sloneek. “Our investors are well aware of our potential.”
The investment will help Sloneek further its technological development. Next year, the company plans to introduce an advanced platform for detailed human potential analysis through so-called “people analytics”, enhanced reporting tools for not just HR managers but also CEOs and CFOs, as well as various advanced integrations. This, in turn, should help the company triple its current revenue, an ambitious goal.
“Sloneek allows HR professionals to focus on developing people and leave administrative tasks to technology, thanks to its AI tools. Behind the project is a well-aligned team of experienced professionals with a clear vision, which we fully support,” explained Jan Davídek, Partner at Purple Ventures.
“Sloneek is a ‘startup’ only in terms of its flexibility and speed. While working with them closely during the investment process, we experienced firsthand what capable management, a refined business plan, and a clear market-entry strategy look like. That’s uncommon for startups at this stage,” said Martin Banský, Vice Chairman & Investment Manager at Venture to Future Fund. “At VFF, we’re convinced that Sloneek’s product will succeed with new customers in international markets. From our experienced perspective, they have a bright future ahead.”
“Sloneek has grown rapidly since our investment, thanks to a superb product and team. They’re keeping their customer acquisition costs low and retention rates high. More and more companies are now transitioning to hybrid work models, which comes with its own challenges in terms of employee onboarding, day-to-day operations, and long-term engagement. Modern companies already view Sloneek as an essential part of their SaaS management stack,” added Premysl Rubes, Managing Partner and Founder of Presto Ventures, which backed the company two years ago.
