PeopleForce gets investment from Poland’s Pracuj Ventures
The Polish venture capital fund Pracuj Ventures has invested in the startup PeopleForce. The details of the deal have not been disclosed. However, it is known that the startup has become the 9th company in the fund’s portfolio.
PeopleForce is an all-in-one HRM solution for automation of HR and recruiting processes: onboarding, recruiting, work time tracking, performance management, employee engagement assessment, and other tasks.
- The PeopleForce solution is used by customers across 14 countries to manage more than 60,000 employees. Among them are such brands as Rakuten, BMW, Ajax Systems, Parimatch, ARX, SeRanking, SkyUp, and Reply.io. The company has offices in the UK and Estonia, but most of its employees are in Ukraine.
- The company quadrupled its sales in 2021. In Ukraine alone, PeopleForce’s solution is already used by more than 250 organizations, so the company is ready to expand its activities further.
- Last year, PeopleForce raised $700,000 from Sturgeon Capital and other investors. It used the money to develop new features, grow the team, expand into new markets and increase brand awareness.
“There is an overwhelming number of HR tools that are solving different areas of businesses today, however integrating these solutions together, creating a unified employee experience and dealing with multiple vendors is a pain. PeopleForce wants to be a kind of hub for HR,” says Andrew Cetinic, CEO of PeopleForce.
Pracuj Ventures is the first corporate innovation fund in Poland and one of the first in the CEE region to focus on investing in HR Tech and EDU Tech ares. Pracuj Ventures invests in early-stage companies that have already found their first commercial clients. Last year, former Robota.ua CEO Mykola Mykhailov left his position to head Pracuj Ventures. Currently, he holds the position of investment director.
The fund’s portfolio also includes Gamfi, Gymsteer, Inhire.io, Kadromierz, SeniorApp, Sherlock Waste, Wandlee, and Worksmile. All of them are Polish startups.