Sloneek, a Czech-Slovak HR technology startup, has raised a significant €3.6 million in funding to fuel its expansion and product development. The investment, led by Purple Ventures II, comes at a time of rapid growth for the company, which is experiencing triple-digit annual revenue growth and expanding its client base internationally.
In a related topic, back in July, we reported about an interesting UK-based Techstars alumnus Tech1M company that secured $750K to revolutionise HRtech with AI.
What problem is the startup trying to solve
Sloneek’s mission is to empower HR professionals with data-driven insights and automation tools. The company’s platform enables managers to track employee performance, identify talent development opportunities, and manage team efficiency. By leveraging AI, Sloneek frees HR teams from administrative tasks, allowing them to focus on strategic initiatives.
“Our investors are well aware of our potential,” said Filip Lukac, CEO of Sloneek. “Companies are getting ready for a new era – over half of the productive workforce now consists of Millennials and Gen Z. This presents opportunities for more efficient work, but also risks if companies fail to adapt and manage this change.”
Expansion plans
With the new funding, Sloneek plans to accelerate its expansion into Western Europe, starting with Italy. The company sees Italy as a particularly attractive market due to its talent shortage and the growing demand for innovative HR solutions.
“Sloneek allows HR professionals to focus on developing people and leave administrative tasks to technology, thanks to its AI tools,” explained Jan Davídek, Partner at Purple Ventures. “Behind the project is a well-aligned team of experienced professionals with a clear vision, which we fully support.”
Sloneek has already demonstrated its value to a growing number of clients, including major corporations and startups. The company’s platform offers a range of features, from recruitment and onboarding to performance management and employee engagement.
“Sloneek is a ‘startup’ only in terms of its flexibility and speed,” said Martin Banský, Vice Chairman & Investment Manager at Venture to Future Fund. “While working with them closely during the investment process, we experienced firsthand what capable management, a refined business plan, and a clear market-entry strategy look like.”
How the startup is addressing critical HR challenges
Sloneek addresses several key challenges faced by HR departments today, including:
Talent retention: The company’s tools help identify employees at risk of leaving and provide insights for improving retention.
Employee engagement: Sloneek’s platform enables HR teams to measure and enhance employee engagement and satisfaction.
Productivity: By tracking employee performance and identifying areas for improvement, Sloneek can help companies boost productivity.
Administrative burden: Sloneek’s AI-powered automation reduces the time HR professionals spend on administrative tasks, allowing them to focus on strategic initiatives.
What we think about the startup
Sloneek’s success highlights the growing trend of using technology to transform HR practices. As companies continue to grapple with challenges such as talent shortages and changing workforce demographics, HR solutions like Sloneek will become increasingly essential.
By providing data-driven insights, automation tools, and strategic guidance, Sloneek is helping HR professionals to navigate the complexities of the modern workplace and drive business success.
