As part of its Series A financing round, the Hamburg-based startup Localyze has announced a capital increase of 12 million US dollars. The company received an EXIST start-up grant through the University of Hamburg.
“From my point of view, I can say that I was already very impressed by the above-average perseverance with which the Localyze team pursued its goals. I haven’t experienced this in this form very often,” says Nils Neumann (beyourpilot start-up consultant and head of the Hamburg Innovation department).
Hanna Asmussen (Industrial Engineer, Technical University Berlin), Lisa Dahlke (Human Resource Management, University of Hamburg) and Franzi Löw (PhD on: Market Design of Digital Markets, Helmut Schmidt University) founded Localyze in 2018. Today, the startup has 25 employees.
Nils Neumann supervised Localyze together with Nadine Weitendorf from the University of Hamburg as part of EXIST. The startup received the founder grant through the University of Hamburg from March 2018 until the end of February 2019.
As part of its Series A financing round, Localyze has now raised 12 million US dollars: The round of equity investors is led by Blossom Capital, with existing investor Frontline Ventures also joining. In addition, a number of angel investors are among the backers: Andrew Robb (ex-Farfetch), Des Traynor (co-founder of Intercom), Hanno Renner (co-founder of Personio), David Clarke (CTO of Workday) and Michael Wax (CEO of Forto).
Localyze helps companies hire and engage employees across borders. Customers include Free Now, Trade Republic, Babbel, Thoughtworks, Tier Mobility, DeepL, Forto and Personio. The start-up supports all processes related to topics such as relocation, visa extensions and transfers between branches. The “Global Mobility Software” developed for this purpose is intended to help companies make the recruiting processes for workers from all over the world as efficient as possible. The all-in-one platform manages all aspects of the process together with various global mobility experts. The startup has helped more than 2,000 people from over 100 countries relocate so far.
There was a seed funding round of US$2.1 million in 2020, led by Frontline Ventures. Localyze said it saw revenue growth of more than 300 per cent in the first quarter of 2021, which also marked its achievement of profitability.
“Localyze plans to use the new capital to enter new markets and accelerate product development and executive recruitment in engineering, product design and marketing to meet the growing demand for digital solutions,” the company said. With the fresh capital, the startup plans to expand further in Europe: A launch in Ireland, the Netherlands and Spain is planned for later this year.
Further information: www.localyzeapp.com