Rotterdam-based Freeday, a company that helps organisations hire digital employees (robots) to assist their office teams by taking over repetitive tasks, announced on Tuesday that it has raised €4M in its Seed round of funding.
Freeday says it will use the funds to elevate the brand and accelerate its international growth strategy. Besides, the capital will also help scale the company’s development, expand strategic partnerships and roll out to new markets and industries.
The round was led by Amsterdam-based venture capital firm henQ. The firm invests from pre-Seed to Series A in B2B software startups across Europe, writing tickets between €2M to €5M. The company says, “Companies we invest in, range from having their first embryonic product and a few pilot customers to having €2M to €3M in annual recurring revenue being ready to scale properly.”
In December 2020, henQ raised €100M to invest in European B2B software companies. The firm’s assets under management are approximately €200M.
Co-founder of Freeday, Marcus Groeneveld, says, “We are thrilled to welcome henQ to our network of investors and partners. They have a proven track record in helping innovative b2b software companies with an international growth strategy. And we are excited to be working with an investor that recognises the potential of Freeday.”
Hire digital employees
Founded in 2020 by Marcus Groeneveld, Mathijs Gast and Toon van Bodegom, Freeday is on a mission to rewrite how work and interaction are done, so that people can collaborate, solve complex problems, and focus on the rewarding part of work.
The company provides a SaaS platform to hire and manage a digital workforce with digital employees that take over repetitive, tedious tasks, and interactions. The SaaS solution comes with a transactional model, flexible scaling, and without an upfront (setup) investment. This way Freeday helps businesses in hiring, training, and making new digital employees start within 2-4 weeks, with minimal to no impact on IT resources.
The company claims that its digital recruitment procedure is 50 per cent cheaper than the traditional hiring process.