Talentuno – a highly-disruptive, HR Tech firm – has reached an important milestone. In a Series A round led by Hiventures Fund Management and Bonitás Venture Capital Fund Management Ltd., the early-stage venture secured 4 million Euros of fresh equity capital. Besides accelerating the firm’s geographic expansion – with Poland next in line – the capital injection is aimed at further strengthening its cutting-edgetechnological and IT solutions, which are a key foundation for international expansion.
The Hungarian early-stage venture will shake up the European recruitment industry. Through its innovative platform of Talentuno, users recommend their acquaintances for new jobs, and earn significant amounts of commission on successful recommendations. In this community recruitment model entirely created by Talentuno, anyone can become a so-called “MatchMaker” – a freelance recruiter. The Hungarian early-stage venture will be a cornerstone of the HR tech revolution with its business-model that significantly reduces time-to-hire and recruitment costs – and in the process democratising recruitment.
“After a nearly 3-year period of solid preparation, Talentuno was launched last September . We are glad to see that the portal is rocketing in Hungary, we have more than 6,000 Matchmakers, (freelance recruiters) so far, who recommended nearly 7,000 candidates for our partner companies. We managed nearly 1,500 application processes. The ratio of successful placements is already higher than the industry benchmark,” said Talentuno CEO and Co-Founder Zsolt Kelliár. “More than 100 companies already use the platform including well-known Fortune 500 companies. They have posted more than 500 positions on Talentuno so far, which we are truly proud of.”
Talentuno has paid commission to more than 100 MatchMakers already for successful recommendations, and hundreds of applications are currently in progress. For large companies, the average time of placement for a position ranges from 1.5 weeks to 3 months. Yet Talentuno willshorten and simplify this process. “After the local Hungarian market, we are targeting Poland – a market of nearly 40 million people,” Talentuno CEO and Co-Founder Péter Balázsik added. “By December 2019 we’ll have 20,000 Hungarian MatchMakers and 10,000 Polish MatchMakers – and more than 1,000 corporate clients across the region.”
The success of Talentuno is based on 3 pillars: a truly international team, a highly-disruptive business model, and a deep and rapidly-growing HR market hungry for better solutions. “We believe that with these success factors, and the next round of investment, Talentuno will be able to conquer both the UK and the US markets,” Hiventures Deputy CEO Bence Katona added.
“The investment is used for speeding up and launching tech developments to enable Talentuno to offer more sophisticated solutions to users. With its crowdsourcing-based solution and exciting new business model, the start-up is shaking up the traditional HR sector,” said Bonitás CEO Gábor Kiss. “When we choose companies that we consider deserving of significant investment, management competency is a key aspect. Amongst other things, we see the potential in Talentuno because investors’ trust is grounded by the management’s professional background, with their unique vision – they bring a real solution to recruitment issues, and they have great chances at building a major business.”
With immediate plans to launch Talentuno in Poland in May, management has also engaged in first discussions with London-based investors for its next round of c.15m Eur, which will fuel its UK expansion in 2020.