In a Series B financing round, the HR start-up Localyze raised 35 million US dollars. Among other things, beyourpilot supported the successful application for the EXIST scholarship when it was founded. Among the capital providers is also the tax start-up Taxdoo, which was founded by three former academic staff members of the University of Hamburg.
The start-up Localyze supports all processes around topics such as relocation, visa extensions and transfers between branches. It uses advanced automation as well as human expertise. 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.
Hanna Asmussen (industrial engineer, Technische Universität Berlin), Lisa Dahlke (human resource management, University of Hamburg) and Franzi Löw (doctorate on: market design of digital markets, Helmut Schmidt University) founded the startup in 2018. Today, they have about 25 employees.
beyourpilot start-up consultant Nils Neumann mentored Localyze together with Nadine Weitendorf from the University of Hamburg as part of EXIST. The startup received the founding grant through the University of Hamburg from March 2018 until the end of February 2019, with a seed funding round of $2.1 million in 2020, led by Frontline Ventures. By its own account, Localyze reported revenue growth of over 300 per cent in the first quarter of 2021, which also marked its achievement of profitability. In its Series A funding round, Localyze raised $12 million last year.
The current successful Series B funding round of 35 million US dollars is led by venture capitalist General Catalyst. Also involved are Visionaries Club, Web Summit Fund, Frontline Ventures, Remote CEO Job van der Voort and the founding team of Taxdoo, which was founded by three former research assistants at the University of Hamburg. Taxdoo was also able to secure an EXIST founder grant in 2016 with the help of Nadine Weitendorf in cooperation with Nils Neumann.
Localyze’s all-in-one platform manages all aspects of the process together with various global mobility experts. Since its launch, some of the fastest growing companies in Europe have used Localyze’s services, including Tier Mobility, Forto, Free Now and Personio, to grow their teams and attract 5,000 employees in more than 90 countries.
Localyze now plans to use the fresh money to expand its business in the US and Canada. The startup was already part of Silicon Valley startup accelerator Y-Combinator in 2019. Localyze also recently acquired the HR company TruePlan from San Francisco. The Asian market sol also be targeted next year.