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Politics

The Greek-American Startup Workable Raised $50M in Additional Funds

December 1, 2018

BOSTON – Workable, the Greek-American startup, continues to succeed, as evidenced by a new round of funding amounting to $50 million dollars from various international investors.

Considered the largest in its field, Workable is a flexible, global, easy-to-use hiring software available on desktop and mobile. It helps small and medium-sized businesses around the globe with the recruiting process by advertising jobs, sourcing candidates and tracking applicants. It is considered the largest in its field.

The company is headquartered in Boston and has offices in London, Athens, San Francisco and Sydney. Workable’s software is currently being used by 20,000 companies in more than 100 countries. It is estimated that the technology platform evaluates about 50 million job candidates.

Workable’s latest round of financing is led by Zouk Capital, a private equity firm headquartered in London, as well as several previous investors including: 83North, Balderton, Notion, Triple Point and Endeavor Catalyst.

Since its creation in 2012, Workable has accumulated funds totaling $84 million. The company reports that millions of small and medium-sized businesses around the globe make up 70% of international recruitment.

Workable’s platform provides all the necessary means for an automated modern staffing process. It absorbs much of the administrative work that comes with hiring new personnel. For example, it becomes a hub for large amounts of candidate information and allows for the exchange of emails, the scheduling of interviews and the assignment of jobs with just a few key or screen strokes.

Workable is supported by Artificial Intelligence (AI) and the new funding will be directed to strengthening the company’s presence in that field. The technology underlying Workable’s AI is based on hundreds of millions of human decisions on the successful proposal of capable candidates. Workable also collaborates with over 180 partners, such as LinkedIn, Indeed, Facebook and Google.

Workable founder and CEO, Nikos Moraitakis, said, “In 2012, we created a simple recruitment system just the way we wanted it to be. Workable started based on a design that was made for users, by its users, and was originally intended for only a few people. Six years and 20,000 customers later, I have the feeling that the design philosophy was not as idiosyncratic as I once thought.”

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