According to HR startup Sloneek, turnover, loss of talent and hiring the wrong people account for a third of the company’s employee costs. At the same time, its founders believe that they were able to find a solution to the problems associated with the outflow of talent and falling productivity. They thus help with the digitization of routine tasks, so that HR professionals can focus on people and bosses can manage efficiency and motivation. They are already active in Europe and the United States, but they have now closed another investment round to strengthen their position abroad. Here is a summary of the most important information.
Invested startup: Sloneek
Who invests: Czech Purple Ventures and Slovak Venture to Future Fund and Vision Ventures
How much and in which round: 3.6 million euros (90 million crowns) in the late-seed round
How much the startup has already raised: In 2022, Sloneek received one million euros from Presto Ventures and Vision Ventures, and 350 thousand euros from Vision Ventures in 2020.
Sloneek startup management Milan Rataj, Marek Beran and Filip Lukáč
What Sloneek does: It operates in the HR market, enabling CEOs and HR professionals of small and large companies to see their teams in data, support and develop talent, and manage human effectiveness and motivation. Its founders believe they have found a recipe for the problems plaguing companies in Western Europe, i.e. talent drain and declining team productivity amid rising employee costs. In addition to economic upheavals, demography and generational change are also to blame.
In what way: Beyond the normal services of the HR platform, such as the digitization of paperwork, recruitment management or onboarding, it offers strategic functions for people management, including tracking the work of teams and individuals in data. It can identify workers whose potential is not being used, who are at risk of being fired due to slow personal development, or who, on the contrary, experience long-term inefficiency. Sloneek’s goal is not to replace HR professionals with artificial intelligence, but to relieve them of repetitive, often unskilled work with a lot of room for human error.
Startup headquarters: Prague and Slovak Košice
Presto Ventures
Presto Ventures is a Prague-based investment company that supports talented founders…
Founders: It was created in 2019 under the baton of Milan Rataj and Filip Lukáč.
How big is it: According to the founders, Sloneek is growing at a rate of more than threefold year-on-year, and this year’s turnover is expected to be in the higher units of millions of euros (150 to 225 million crowns). His clients include Lindt, Volvo, Savills, Panattoni, Knight Frank or domestic startups Carvago and Košík.
Why it’s interesting: “Sloneek is a startup only in its flexibility and speed. During close cooperation during the investment, we experienced firsthand what competent management, an elaborate business plan and a clear strategy for entering new markets look like. You just don’t see that in startups at this stage.” mentions Martin Banský from Venture to Future Fund.
What he plans to use the investment for: Among other things, technological development. Next year, for example, it plans to introduce several new services, but it is also time to strengthen its position in Western Europe. The first stop will be Italy.
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