Romanian-born HRtech startup Nestor raises $2M in a seed round 

Nestor, HR software developer has raised $2 million for its people intelligence platform. The seed round was co-led by Eleven Ventures and Underline Ventures.

  • Founded in 2018 by Raluca and Bogdan Apostol, Nestor develops people intelligence platform that brings together employee engagement, performance, and development planning with a skills-based approach. The solution uses predictive analytics to provide individual nudges for employees and actionable insights for managers and HR professionals.
  • Nestor is headquartered in San Francisco, and currently over 10,000 employees around the world are using the product. The company claims that among their clients are HR leaders in Fortune 500 companies across Europe, North America, and Latin America. 

“Every employee is unique. We envision a world where every employee receives the right opportunity at the right time to continually learn and improve the skills that will help them succeed. We help organizations make an impact on each employee’s development and enable HR people leaders to build agile people strategies that move beyond the traditional job approach by placing skills at the front and center of their talent operations,”

Bogdan Apostol, CEO and co-founder of Nestor, said.
  • The round was co-led by Eleven Ventures, AIN.Capital recognized it as the most active Bulgarian VC. In October 2022, Eleven Ventures launched Eleven Alpha, a €300,000 investment program for early-stage startups from South Eastern Europe.
  • Another leading investor is Romanian VC fund Underline Ventures. Among its recent investments are the Bucharest-based company Goodlegal
  • Nestor plans to use the fresh investment for growing its sales and customer success teams, accelerate its expansion in the newly entered US and Latin America markets, and invest in more product development.