Contxto – You don’t have to remind us, we realize that we’ve covered lots of Brazil over the past week. Yet every day something newsworthy emanates from this massive Latin American country, especially when it comes to startups.
Active within the human resources (HR) tech realm is Revelo. With over 3,000 companies in its network, the HRtech recently wrapped up a Series B funding round worth US$15 million to accelerate its hiring platform. This will involve launching new products for the benefit of both companies and candidates.
“We are thrilled to announce this investment, which will allow us to keep tripling in size every year and to launch exciting new products for companies and candidates,” said co-founder Lachlan de Crespigny.
Led by the IFC, this is reportedly the most valuable round that a Latin American HRtech startup has ever raised, according to Techstartups.
Considering that fellow Brazilian HRtech startup Xerpa essentially claimed the same accomplishment with its US$12.9 million Series B, it’s clear that the numbers just keep on growing, notably in Brazil.
Previously, the IFC has invested in Loggi, Creditas, GuiaBolso, among other companies. Co-investors included FJLabs, Dalus Capital, in addition to early-stage supporters such as Valor Capital and Seek.
Based in São Paulo, Revelo specializes in HR recruitment, dedicated to aiding the unemployed find promising new careers. Lachlan de Crespigny and Lucas Mendes founded the company in 2015 that uses a machine learning-based platform to match qualified candidates with the most relevant employment opportunities.
Part of Revelo’s business entails “curating” candidates based on their skills as well as knowledge. With in-depth applicant profiles, the platform essentially plays matchmaker, connecting the most qualified professionals with appropriate gigs.
Unlike other companies, this one caters to “knowledge” workers making mid to high incomes, particularly those in finance, management, technology and marketing.
At least in Latin America, many experts still resort to old-school means to land jobs. That’s to say, a lot of paper trails, not to mention excruciatingly slow processing times.
“Most knowledge workers in Latin America still find their jobs offline,” said Mendes. “Our goal is to become a go-to online platform to help them navigate their careers.”
Unemployment in Brazil
One of the most prominent issues that Revelo is tackling is Brazil’s high unemployment rate. While the number of jobless citizens staggers around 13 million, Revelo has been steadily tripling its size.
“This happens because our focus is on knowledge workers,” said Mendes. “In areas of high-demand, such as financial markets and technology, the demand for talent keeps growing.”
Whether working as a Data Engineer or Growth Hacker, many professionals come out very satisfied based on their interaction with Revelo.
“My experience was amazing,” said André Santos, a UX Designer. “From the moment I joined the platform and received the proposal to the feedback I got after I was hired.”
While employees benefit from job placement assistance, perks also exist for Brazilian companies partnering with Revelo. Equipped with its technology, not only do partners rapidly source and screen talent but also fill job vacancies.
For roles that require specialized knowledge, businesses can find, interview, not to mention hire candidates in an average of 14 days. That’s 5 times quicker than offline recruiters at 20 percent of the cost.
Famous companies using Revelo’s solution include QuintoAndar, Gympass, Itaú, 99 Taxis, as well as many others. Depending on the industry, common job placements include roles in the finance, marketing, data, design, business administration and engineering departments.
As of today, Revelo’s network incorporates over 3,000 companies, in addition to approximately 1 million candidates. There are also about 100 employees at its São Paulo headquarters.