Page 13 - bne_Tech_12_2019

Investment
December 2019 www.intellinews.com I Page 13
Estonia’s “secret career app” MeetFrank raises funds for international expansion
Tallinn-based startup MeetFrank, the creator of
a “secret career app” that allows jobseekers to look for new positions anonymously, has raised €1.5mn in a funding round led by Karma.vc, Enern VC, Change Ventures, and Hummingbird. This brings the funds it has raised so far to a total of €2.4mn, the company said.
MeetFrank plans to use the latest injection of funding launch its new “relocation without location” feature which, it says, "opens up international borders and helps global talent relocate for work”.
Filip Popovic, principal at Enern VC, said he believed the platform will “fundamentally change the way talent relocates and acquires work around the world”.
"Employers will be able to find candidates across functions and geographies on a single platform that will become mission-critical in attracting talent ... We chose to invest in MeetFrank because they have a great team, the capability to build further traction, and they are on the cutting edge of technology to disrupt the recruitment process globally,” Popovic said, according to MeetFrank’s press release.
The app allows jobseekers to see who wants to hire them and how much they want to pay; employers only receive applicants’ personal information if they declare interest in a job.
MeetFrank “aims to otherwise bring transparency to the job market with explicit salary offers and
by helping passive job seekers assess their employment options without alerting their current bosses to their job search,” the company said.
Its expansion – it currently has over 265,000 users worldwide with the largest numbers in its home market Estonia, plus Finland, Latvia, Lithuania, and Germany – comes amid a sharp tightening of the labour market in Central and Eastern Europe (CEE) that has seen steadily rising salaries, and companies becoming increasingly creative in their efforts to attract and retain talent.
MeetFrank’s press release stresses the potential for cross-border recruitment, saying the company’s philosophy is that “aspiration, not location, is essential for attracting the best talent”.
“Applicants can now easily discover new opportunities abroad, and companies get talent that best aligns with their job requirements from outside of their local talent pool,” it explains.
“Talent is willing to move for the right opportunity, but in most cases, the right opportunity never arises. Job opportunities outside your ecosystem are often inaccessible and global talent doesn’t know what their global options are. Additionally, great companies miss out on the best people because they don’t know how to reach them,” said MeetFrank CEO Kaarel Holm in a statement.
“We want to match people to the companies that align with their views, values, and aspirations. Currently, the global talent pool is too biased towards location instead of attracting the best talent.”