- FinLab EOS VC Fund invests in combination of recruiting and blockchain
- Investment will support further development of the automatic Reverse Recruiting platform, as well as the implementation of the EOSIO Blockchain Software
- In 2018 Instaffo achieved growth of over 500% and increased its annual sales to around 2 million euros
- Focus for 2019 is on the continuation of sales growth, expansion and integration of blockchain and machine-learning technology
Heidelberg, Germany, 10th April, 2019 - HR technology provider Instaffo has received a second investment from the FinLab EOS VC Fund managed by Finlab AG, raising a total of EUR 2 million in Series A capital. In addition to the investment from Frankfurt, existing investors Volker Rofalski, Carsten Erdt and Alfred Keschtges, among others, participated in the financing round.
EOS VC is part of the blockchain company EOSIO. The new capital will be used to expand the platform, automate Reverse Recruiting and integrate the Block.one EOSIO Blockchain Software. Instaffo's turnover in 2018 was almost five times that of 2017, with sales of almost 2 million euros. The company employs more than 60 people.
This March Instaffo published a new version of its platform. Using machine learning and performance-based marketing measures, the platform automatically matches and links suitable employers and employees. Both parties can interact and arrange an interview via direct chat. Employee profiles are not public and remain anonymous until chat permission is granted.
'We're delighted that Instaffo has decided to integrate EOSIO into its platform', says Michael Alexander, CEO of EOS VC. 'Instaffo has an extensive database of sensitive information, and many confidential interactions take place on the platform. Therefore a very strong and secure technical infrastructure is a prerequisite. With the help of the EOSIO protocol we are able to implement a solid smart contract development.'
Since the beginning of 2017, Instaffo has been active on the German-speaking market with its Reverse Recruiting platform and already counts well over 500 companies as its customers. 'By implementing EOSIO's blockchain technology in our platform, we are optimizing our processes and user experience in talent recruiting. We expect continued strong growth in 2019 and plan to expand our offering', says Christoph Zöller, CEO of Instaffo.
Founded in 2014, Instaffo is a fast-growing German start-up. With more than 500 business customers in Germany, Switzerland and Austria, Instaffo connects employees and employers through its artificial intelligence-based reverse recruiting platform.
About EOS VC
The EOS VC program provides developers and entrepreneurs the financing they need to set up non-profit companies using EOSIO. It is supported by venture capital partnership funds that focus on the sustainable use of the EOSIO ecosystem by investing in a concentrated and diversified portfolio of blockchain-oriented companies based on EOSIO software.
The EOS VC initiative is dedicated to promoting a global network of individuals from a range of disciplines through our engagement events. As part of its mission and vision, EOS VC works regularly with the blockchain development community.
PIABO PR GmbH
10.04.2019 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de