With the ‘boomer’ generation nearing retirement and of course, how can we not talk about the period of the Great Resignation, European employers are facing steep declines in the available workforce. Germany alone is losing 500,000 workers annually.
As German CEOs rank the ‘labor shortage’ their No. 1 concern for growth, Berlin-based HeyJobs is rising to the challenge. To take on Europe’s dramatically changing labor demographics, it has now raised $47 million funding. The Series B round was led by Digital+ and FMZ Ventures, with participation from existing investors, including Notion Capital, Heartcore Capital and Creathor Ventures.
The startup will use the funding to push the application of AI in talent acquisition and expand its data and business team in Germany.
Founded in 2016 by Marius Luther and Marius Jeuck, the startup matches talent and employers with the help of AI to enable companies to hire quickly and cost-effectively. Employers can recruit ‘essential talent’ across 100 different professions such as lorry drivers, nurses, or electricians.
Marius Luther, founder and CEO, HeyJobs said: “While 5 years ago, we could identify who is a nurse versus a driver, our AI has now learned to identify who is a qualified intensive care unit nurse that seeks to do 3-night shifts. We have neglected the largest share of the workforce - 30 million alone in Germany, over 200 million essential talent in Europe and that’s what the startup attempts to address now. In 2021, we were responsible for around 1% of all German hires.”
The HR tech startups have witnessed a lot of VC funding in the past few weeks. While Paris-based Lucca unlocked €65 million and London-based Omnipresent raised $120 million this week, Chemnitz-based Staffbase became a unicorn with $115-million funding last week