Dutch-Belgian startup Talmundo has impressed todo el mundo by securing € 500K growth financing for its online employee onboarding platform. The new funding comes from TIIN TechFund 3, which is managed by Dutch venture capital fund TIIN Capital. The HR-technology startup with its headquarters in the Hague will use the funds to roll out its employee onboarding app past the Benelux Borders into countries like Germany, the UK, Switzerland and Scandinavian countries.
Updating and revising outdated onboarding processes
Talmundo started out in 2012, initially as a builder of custom HR apps. In 2016 the company’s Flemmish CEO and cofounder Stijn de Groef decided to shift the company’s focus to onboarding. The idea behind Talmundo’s onboarding app is that joining a new company “doesn’t have to mean an overwhelming first week of endless meetings and death-by-presentations”. Talmundo turns introducing new employees into a company into an easier, more engaging and more professional process which is more fun and therefore more motivating for the new recruits: “Younger generations have grown up with well-designed, easy-to-navigate and almost flawless technology. But when they enter a new job at a large multinational, in comes the same clunky HR software system that has been around for years. Large multinationals spend millions on their hiring processes, so why frustrate new hires from the get-go?” says De Groef.
No more boring admin forms
Now what is so different about Talmundo’s onboarding app as opposed to regular employee introduction processes? For starters, an employee gets access to the app from the moment he or she has signed an employment contract. The app provides information about the company and guides the new employees through various tasks and activities. Best of all, the app takes care of the dull but necessary administrative task. So no more stacks of forms to fill out for payroll, IT and other departments. Talmundo has ensured their app works seamlessly across all devices (tablet, laptop, smartphone). The app also has a flexible content management system controlling it. This means that any changes an HR department makes can be pushed out automatically to all users, thus ensuring optimal user experience. The Talmundo app is already a success at companies like Bacardi, ArcelorMittal and Staples.
“An experience for employees”
So far Talmundo mainly relied on funding from three Dutch angel investors. With TIIN coming on board, the fund will receive a minority stake in the company. Besides scaling up to other European markets, Talmundo also intends to use the funds to expand its app and hire new staff. Richard Tieleman, investment manager at TIIN TechFund 3, is enthusiastic about the opportunities: “HR technology is by far an underfunded corner of the startup ecosystem. And wrongfully so. For Talmundo’s core market – large multinationals – people are the most important asset. Multinationals will soon realize that work needs to be an experience for the employees, not just a way to earn a paycheck.” Michael Lucassen, partner at TIIN Capital, agrees: “Talmundo’s technology increases satisfaction and ultimately loyalty among employees with a fun and simple solution. TIIN Capital sees a lot of opportunities, and Talmundo is one of them.”
[Disclosure: The consultancy branche of our parent company Proudly Media consults for Talmundo. This article is independently written by one of our editors]