The Pracuj Group Announces Strategic Investment from TCV
29.6.2017 08:43 | Business Wire
The Pracuj Group (Grupa Pracuj), a leading provider of Human Resources (HR) solutions that help companies recruit, retain, and develop employees in Central Europe, today announced that TCV has agreed to make a minority investment in the company. The closing of TCV’s investment is subject to customary closing conditions. TCV provides growth equity capital for both private and public technology companies in the U.S., Europe, and internationally. The Pracuj Group intends to use the funding to fuel international expansion and expand its product suite. As part of the investment, John Doran and David Yuan, General Partners at TCV, will join the company’s supervisory board.
With more than 17 years of experience in the online recruitment market in Poland, the Pracuj Group oversees four companies: Pracuj.pl, a job board; applicant tracking system eRecruiter; Rabota.ua, a Ukrainian job board; and emplo.com, a platform to support communication and HR processes in companies.
As of today, 40,000 businesses use the Pracuj Group’s products on an annual basis. Its flagship brand, the Pracuj.pl job board, is growing with 2.5 million monthly users and 1,000 new clients joining each month.
Przemysław Gacek, President of the Pracuj Group’s Management Board, said, “At the Pracuj Group, we are continuously striving to learn and innovate and hence were looking for an investor that could provide both knowledge and inspiration. TCV is a perfect fit since they invest in and establish long-term partnerships with technology-driven companies such as ours.
We look forward to working with TCV as we continue to develop and further expand our business. TCV brings decades of sector knowledge and deep experience in helping companies scale. We welcome their expertise as we continue to grow Pracuj Group’s core businesses and expand successful SaaS solutions.”
Today’s announcement marks TCV’s first investment in Poland.
John Doran, General Partner at TCV said, “The Pracuj Group is a great example of the type of company TCV looks to invest in. Led by Przemysław Gacek, the company has established itself as a market leader across Central Europe and shows incredible potential for further growth and international development. We look forward to working alongside the founders and the Pracuj Group’s management team to support the acceleration and growth of its human resource solutions.”
Grupa Pracuj was advised in this investment process by Trigon and GCA Altium (financial) and by Greenberg Traurig (legal). TCV was advised by Weil, Gotshal & Manges (legal).
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