RO platform for employees closes EUR 1 mn funding round, aims for further expansion in CEE, Asia and Africa

Undelucram.ro, the online community for employees, has closed a EUR 1 million round of late-seed funding.

The investment will be used to develop machine learning and AI algorithms and for further expansion into Central and Eastern Europe, Asia and Africa, the company has said.

The lead investor in this round was Sofia Angels Ventures, a Bulgarian investment fund that invested EUR 400,000. They were joined by the investment fund Gapminder VC with EUR 200,000 - and at its third investment in Undelucram.ro; Head North with EUR 200,000; the technology start-up co-investment platform SeedBlink with a EUR 100,000 follow-on; and a business angel with EUR 100,000.

Undelucram.ro has attracted four rounds of investments totaling EUR 2,000,000 so far. The previous ones took place in 2017, 2019 and 2021.

Undelucram.ro was launched in 2011 by entrepreneur Costin Tudor. It has become a regional network of online employer branding and recruitment platforms as WhereWeWork.com. It provides information about employers, salaries, benefits and how job interviews are conducted. Undelucram has the largest online employee community in Romania and one of the largest in Central and Eastern Europe, with over 1.5 million employees on the platform regionally, according to data from the company.

The company's management aims to have more than 4 million users and a thousand customers by the end of 2024.

The company began expanding outside Romania in 2019, initially in Central and Eastern Europe, and from 2022 outside of Europe. The network is currently present in 14 countries: Romania, Bulgaria, Hungary, Greece, Ukraine, Moldova, Czech Republic, Poland and the MENA area (Algeria, Egypt, Morocco, Tunisia, Saudi Arabia and the United Arab Emirates). The company will also expand into new markets in Asia.

The WhereWeWork platforms are in local languages and are customized to each country. The community operates on a business-to-business model based on an annual subscription, and the service is available in both the employer branding and online recruitment areas. The platform is based on machine learning algorithms and aggregated user data, matching the interests of candidates in the job market with those of employers.

(Illustration - WhereWeWrok network, courtesy of the company)