Czech HR startup Sloneek has raised €3.6 million from a group of investors, including Presto Ventures, Purple Ventures II, Venture to Future Fund and Vision Ventures, to help it expand into Western Europe. The company told AIN the details of the deal.

About Sloneek 

  • Sloneek, founded in 2019 by Milan Rataj and Filip Lukac, is a modern AI-powered human resources solution that streamlines day-to-day HR processes such as recruitment and offboarding. 

“The average company loses 30-40% of its employee costs due to turnover, talent loss, and hiring unsuitable candidates, a common issue not only in the Czech Republic but also in other countries. This is a significant expense, especially considering the high cost of European labor. HR managers struggle to address this issue, but Sloneek is helping to address this issue,” the company’s representatives stated.

  • Sloneek's AI integration spares hiring managers of paperwork, allowing them to entirely concentrate on people.

  • It allows supervisors and HR experts in both small and large businesses to better understand their staff using data, promote talent development, and manage human efficiency and motivation. 

  • In addition to business entities in Czechia and Slovakia, the Sloneek platform is used by companies throughout Europe and the United States. Its notable clients include Lindt, Volvo, Savills, Panattoni, Knight Frank, and Czech startups like Carvago and Kosik.

Investment details

This is the largest investment to date for Sloneek, the fastest-growing B2B SaaS HR startup in the Czech Republic. Leading the current late-seed round is fund Purple Ventures II, joined by Venture to Future Fund and Vision Ventures, a repeat investor. 

In 2022, Sloneek raised €1 million from Presto Ventures and Vision Ventures, and in 2020 it received €350,000 from Vision Ventures. The new funding comes at a time when Sloneek is experiencing more than triple annual growth, expects revenues in the high single-digit millions of euros this year, and has doubled its client base – with most new clients now acquired outside of the Czech Republic.

“The investment comes at the perfect time. 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. People are, without exaggeration, the alpha and omega of any economy’s success, and we have the chance to elevate how we work with them to a whole new level,” says Filip Lukac, CEO of Sloneek. “Our investors are well aware of our potential.”.

With fresh funds, Sloneek plans to invest in technological development with an advanced platform for human potential analysis, enhanced reporting tools for HR managers, CEOs, and CFOs, and various integrations, aiming to triple its current revenue. 

Sloneek intends to use this investment to not only improve its technology but also to boost its presence in Western Europe, with Italy as its initial focus.