Hamburg-based Localyze start-up raises USD 12 million
The Hamburg-based start-up, Localyze, has raised USD 12 million in a Series A funding round led by Blossom Capital and with existing investor Frontline Ventures. The start-up's "Global Mobility Software" is designed to help companies make international recruiting processes as efficient as possible. Founded in 2018 by Hanna Asmussen, Lisa Dahlke and Franzi Löw, the start-up grew revenue by over 300 per cent in the first quarter of 2021 and now plans to put the fresh capital towards further expansion in Europe.
Support for companies and employees
Hanna Asmussen, CEO of Localyze, commented: "We have developed a solution that makes it easier for companies to hire internationally and gives employees a positive experience rather than leaving them to overcome all the obstacles related e.g., to the visa process, alone." The three founders now aim to ease the often cumbersome and costly relocation processes involving visa extensions and transfers between offices for both HR departments and employees. The services offered include information on applying for visas, work and residence permits, as well as support opening a bank account or taking out insurance.
Rising demand despite pandemic
Localyze's customers include Free Now, Trade Republic, Babbel, Thoughtworks, Tier Mobility, DeepL, Forto and Personio. Philip Schröer, Head of People Services at Free Now in Hamburg, said: "We work with Localyze as a core part of our talent strategy and use the software to meet the new site flexibility requirements of our over 2,000 employees." Employer demand is increasing by more than 30 per cent per month on average at present amid more relaxations on pandemic-induced border closures, Localyze said. The start-up is expecting continued post-pandemic growth in employee mobility based on new hybrid work models.
Localyze's expansion plans
The additional capital will be put towards the launch on new markets and accelerating product development. Emphasis is on key hubs for international talent in Ireland, Spain, Portugal, the Netherlands and Britain. "We are striving to be the go-to company for global mobility. A broader geographic footprint is the biggest lever for that," said Asmussen. Localyze's long-term goal is to win over even more high-growth companies with branches in Europe for the company's software.