Estonian RecruitLab secures €1.9M from Change Ventures

The Tallinn-based HRtech startup RecruitLab has secured €1.9 million in seed funding round for its recruitment software. Change Ventures led the round with the participation from Startup Istanbul, FFF.vc, and BADideas.fund.

• Founded in 2020 by a trio of entrepreneurs with over a decade of HR market experience Paavo Heil, Marie Evart, and Karl-Sander Erss, RecruitLab provides a video-recruitment platform that automates the recruitment processes and handles more candidates while reducing hiring time almost by 50 percent.
• The platform offers applicant tracking, a recruiter’s dashboard, recruitment metrics and statistics, job ads, social media recruitment, and application forms. The tool is available on the subscription-based model.
• RecruitLab has clients across the UK, Germany, Finland, Estonia, Latvia, and Lithuania.
• Change Ventures led the seed funding. It is a pre-seed/seed venture capital fund investing in major sectors like fintech/regtech, e-commerce, retail, and HRtech. In February 2022, the firm launched a new €49 million fund to support startups in the Baltics.
• Startup Istanbul, Fund Fellow Founders, and BADideas.fund, an early-stage angel syndicate led by founders of companies like Bolt, Vimeo, Shopify, Printify, Pipedrive, also joined in the round.
• The fresh funding will allow RecruitLab to accelerate its expansion to the UK and other European markets. The company is planning to triple its workforce, and also add new functionalities to its platform.