Tallinn, Estonia-based Jobbatical, an AI-enabled platform focused on making employee relocation easy, announced on Monday that it has raised €11.6M in a fresh round of funding.
The round was led by Inventure VC, with the participation of Karma VC, Metaplanet, and current owners Union Square Ventures and Swiss Post. Several angels, such as Joe Zadeh, the former Head of Airbnb experiences, and Devotion Ventures, also participated in this round.
What does Jobbatical offer?
Founded in 2014 by Karoli Hindriks and Ronald Hindriks, Jobbatical has automated the tedious manual work involved in relocation administration. The company claims that this greatly reduces the workload for HR teams, allowing them to devote more time to activities that provide value to the employee experience.
Additionally, Jobbatical also provides a wide range of other value-added services, such as assisting talent with opening bank accounts, locating housing, and filing taxes, addressing many of the issues associated with an employee relocating to a new nation.
CEO Karoli Hindriks says, “Smart employers love the idea of hiring from abroad. But confusing, often seemingly impossible paperwork is stopping perfect hires from happening. Which is ridiculous. And the opposite of thinking beyond borders. So Jobbatical started doing immigration. We got really good at it and realised that if we focused all our efforts on our immigration platform, we could help more people. Jobbatical today is the go-to immigration partner for tech startups and traditional companies alike. We free up time for employers to make more hires. Better hires.”
Jobbatical says it has witnessed 8x Year-on-Year growth with high efficiency and a large number of returning customers such as N26, Pipedrive, and Personio. With operations in 10 markets already, the company claims the funds will enable it to start operations in 30 new markets in the coming 24 months.
Brief about the lead investor
Finland and Sweden-based Inventure VC claims to be one of the most experienced Nordic venture funds that specialises in helping its portfolio companies with talent and expansion.
Since 2005, the firm has backed over 80 companies ranging from deep tech to consumer internet brands, including Wolt, Detectify, Blueprint Genetics, Swappie, and Insurello. With its €380M of assets under management, Inventure focuses on Seed and Series A investments across Nordics and Baltics.
Inventure Funds are supported by the European Union. Fund I and II are supported through the “Competitiveness and Innovation Framework Programme” (CIP), and Fund III by EIF and the EIB with the backing of the “European Fund for Strategic Investments (EFSI)”.
