With this new growth capital, the creators of the innovative employee onboarding app are now ready for rollout in more European markets
THE HAGUE - Talmundo has secured growth financing for its online onboarding platform which is already a fixture at large multinationals including Bacardi, ArcelorMittal and Staples. Based in the Hague, the HR startup is headed by a Belgian CEO and boasts three Dutch angel investors. The new funding comes from TIIN TechFund 3, managed by TIIN Capital, a Dutch venture capital fund. The total half-million euro investment amounts to a minority stake for TIIN and will be used to further roll out Talmundo’s employee onboarding app to major multinationals based in Germany, the UK, Switzerland and the Nordics.
Talmundo started in 2012 as a builder of custom HR apps. Recognizing the need to adapt to an ever-changing market, Talmundo CEO and cofounder Stijn de Groef shifted the company’s focus last year toward onboarding. “In the era of the ubiquitous smartphone, younger generations have grown up with well-designed, easy-to-navigate and almost flawless technology. But when they enter a new job at a large multinational, in comes the same clunky HR software system that has been around for years. Large multinationals spend millions on their hiring processes, so why frustrate new hires from the get-go?” says De Groef. “Talmundo brings conventional and outdated onboarding processes up to speed with the latest technology, making them easier, more engaging and more professional than ever.”
Employees who are new to a multinational company are eager to face new challenges but they expect the onboarding process to be smooth and efficient. De Groef says, “The onboarding process needs to be picture perfect from day one, not only to boost employee satisfaction from the minute they sign on with a company, but also to ensure that the company’s investment in human capital is well spent.”
Talmundo wants to bring a human touch back to employee onboarding by making the process simpler, more fun and more personal. From the moment an employee has signed his or her employment contract, Talmundo’s onboarding app creates a positive experience focused on giving insight into the company and its processes by guiding new-hires through various tasks and activities. Plus, the app streamlines administrative tasks, as employees no longer need to fill out stacks of paperwork for payroll, IT and other departments. As a result, employees walk into the office on their first day feeling not only welcome but also fully prepared and ready to get to work.
Talmundo’s app works seamlessly across all devices (tablet, laptop, smartphone) and is backed by a flexible content management system. This means that any changes made by HR are pushed out automatically to all users, ensuring optimal user experience. Talmundo will devote the new investment to expanding the app, adding new developers and customer success managers, as well as marketing to scale up to more European markets outside their initial core, the Benelux.
Richard Tieleman, investment manager at TIIN TechFund 3, envisions a key role for Talmundo in revolutionizing onboarding processes: “HR technology is by far an underfunded corner of the startup ecosystem. And wrongfully so. Even though HR today is widely seen as a business imperative, for Talmundo’s core market – large multinationals – people are the most important asset. We believe those multinationals will soon realize that work needs to be an experience for the employees, not just a way to earn a paycheck.”
Michael Lucassen, partner at TIIN Capital, adds: “Talmundo’s technology fits perfectly within the global trend. It increases satisfaction and ultimately loyalty among employees with a fun and simple solution. At TIIN Capital we constantly watch technology trends, which are important drivers for companies in improving processes and automation in general. In the ever-changing and innovating early- and later-stage landscape, TIIN Capital sees a lot of opportunities, and Talmundo is one of them.”
End of press release
Talmundo is a Dutch startup founded in 2012 to revolutionize HR technology systems. With his background in HR, Talmundo founder and CEO Stijn de Groef had witnessed firsthand the need for innovation. Launched in 2014, Talmundo’s mobile-friendly cloud software modernizes and simplifies countless HR and onboarding activities, from welcoming new employees to transitioning longtime employees into new roles, from bringing teams on board new projects to transforming company culture, and more. Today, less than two years later,
Talmundo is already proud to serve leading multinationals like KPMG, Lidl, Bacardi, ArcelorMittal, BNP Paribas Fortis, SAS, GFK, Criteo, Deutsche Telekom, Swisscom, and Telenet. In December 2016, investment fund TIIN Capital became a minority stakeholder in the young company.
Since 1998 TIIN Capital has invested in IT and high-tech companies that play an important role in the Dutch economy and make a difference through innovation. TIIN Capital invests through its funds TechFund, TIIN TechFund 2, TIIN TechFund 3, TIIN Buy-out & Growth Fund and TIIN Next Phase Fund. A new fund, focusing on later-stage investments, is in planning for 2017. TIIN Capital holds around € 60 million in assets under management and makes use of a network of over 1,000 informal investors. In addition to capital, our investments highly value entrepreneurship and knowledge of technology and diverse industries (from within our network).
For additional information, please visit: www.tiincapital.nl.