Swedish Startup Space

Menmo Ventures invests 3M SEK in recruitment company YouCruit

Written by on February 10

Venture capitalist Menmo Ventures announced last week that they invests over 3M SEK in the Malmö based YouCruit. YouCruit is an application tool where job seekers can upload a video resume, track their applications and see when the employer read them. The service was released in late August and currently has major customers in Starbucks, Fitness 24 seven, Mercedes Benz and Euroflorist.

Carl-Rafael Fredson, co-founder of YouCruit says that they aren’t actively looking for funds. But that the offer from Menmo Ventures was so good that he couldn’t say no to it. “Actually, we are in this for the knowledge we can gain from them rather than the money. They’re very good at packaging IT companies. In addition to the money they have pledged to put quite a lot of work for us and that was what we wanted in the first place”.

Actually, we are in this for the knowledge we can gain from them rather than the money

The company has recently been recognized as one of Sweden’s ten hottest startup companies and will get to go to San Francisco in late February and presentation to investors at the LAUNCH Festival, an annual investor meeting in Silicon Valley.

The Nordic recruitment space is extremely crowded, with bigger plays like Blocket, Stepstone dominating. In addition, newer players like Jobylon and HappyRecruiting are starting to gain traction

Source: Sydsvenskan

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