Coople, the largest European platform for on-demand hiring, has raised a $32 million Series C round led by One Peak Partners and the growth equity arm of Goldman Sachs Merchant Banking.
Founded in Switzerland, Coople wants to disrupt the $470-billion traditional recruitment industry. The company’s platform uses an algorithm that matches its flexible workforce with the needs of companies. For instance, the algorithm takes into consideration a worker’s location, availability, experience (and ratings) and matches the criteria with requirements listed by the hiring organisation.
Beyond the staff matching function, the platform provides end-to-end automation of the HR process; from planning, recruiting, on-boarding and hiring to workforce management, payroll and payments.
Commenting on the growing impact of the service, CEO Rinaldo Olivari said: "We look forward to continuing on our path of revolutionising the world of work. On the one hand, Coople offers employees a convenient way to find high-quality, flexible jobs. On the other hand, Coople provides companies with reliable, easy access to our fast-growing pool of on-demand talent. Over the past year, we have seen that an increasing number of users are coming to our platform for more than just last-minute jobs. They now rely on Coople for a large part of their income or their core business.”
The company has raised $76 million to date, and the platform currently has 400,000 registered job seekers and over 20,000 registered companies, primarily in the Swiss and British markets. The Series C will aid automation of the online platform and expansion within existing markets, as well as finance the company’s launch in the Netherlands and one other unnamed international region.
David Klein, managing partner and co-founder of One Peak Partners, said “We look forward to our continuing collaboration with Coople, particularly with regard to further international expansion. The market for flexible talent remains one of the most exciting technology market opportunities in Europe, and, with its expanded management team, Coople is in prime position to further expand its market leadership.”