expertlead: €9.5M Series B to connect companies with the best tech talent worldwide
Berlin/Munich, 02. August 2021 – RecTech expertlead closed a €9.5 million financing round to help companies to find, vet and hire the right IT talent. The round is led by Acton Capital, with existing investors SEEK and Rocket Internet also re-investing in the Berlin-based company. Kreos Capital additionally joins the round as a new investor.
Founded in 2018 and backed by Acton Capital since 2019, expertlead’s RecTech platform relies on a combination of AI and the expertise of its own IT community to evaluate the tech talent via peer-to-peer screenings, technical Q&As or live coding on its platform. Customers include multi-national corporations like Daimler, Lufthansa, and McKinsey as well as startups like Trade Republic or Cluno. Due to the strong demand for tech talent fueled by Corona, expertlead is expecting a +500% YOY revenue growth for 2021.
“The trust of the existing investors and the newly acquired investor Kreos Capital encourages us in our plan to become the global market leader in IT recruiting and to make our selection process the global standard in tech recruiting,” says Alexander Schlomberg, co-founder expertlead.
Melissa Donohoe, Vice President of new investor Kreos Capital, adds: “Those who understand and can bridge the needs of high-growth, innovation-driven companies with the expectations of highly competitive IT talent own the future. We are convinced that expertlead’s synergy of smart technology and an engaged community is the right approach to win the battle for sought-after IT talent, and we are very much looking forward to working with the team and supporting expertlead’s success story.”
The fresh funds are to boost further development of expertlead’s platform. Moreover, the startup announced plans to include a SaaS business model allowing companies to tap a global pool of millions of vetted IT professionals.
In addition to the placement of IT freelancers on a per-project basis, expertlead offers clients the technical qualifications of IT applicants. Companies looking for IT experts for permanent employment can have their applicants tested for their technical suitability, and thus can significantly accelerate the recruiting process. The technical skills of the candidate are evaluated objectively according to quantifiable criteria, which also helps to avoid potential bias or prejudices within the process. The advantages include full transparency, guaranteed skill-job fit and the certainty of selecting the right candidate.
Freelancers who are part of the expertlead community can also work as technical interviewers alongside their project work and benefit from challenging projects, training opportunities and numerous benefits – such as discounted access to insurance, co-working spaces, and hardware.