Workable Raises $27 Million to Help Small Businesses Compete for Talent

Workable co-founders CEO Nikos Moraitakis and CTO Spyros Magiatis.
Workable.com

Workable Technology Ltd. has raised $27 million in a Series B round of venture funding to help small- and medium- size businesses use tech to recruit, sift out the best candidates from an avalanche of applicants, and ultimately bring new employees on board.

Founded in Athens, Greece, in 2012, the startup has since established headquarters in London and a U.S. outpost in Boston. Workable Chief Executive Nikos Moraitakis said the reason his company moved from Athens had nothing to do with the economic turmoil there. Instead, Workable wanted to be closer to its English-speaking customers.

Having a significant office in Athens, however, gives Workable one advantage, the CEO said–access to available and qualified engineers who want to stay in Greece, rather than move to tech hubs around the world to make a great living.

Workable charges small- to businesses between $19 and $400 a month for use of its cloud-based human-resources software, depending on the volume of active job openings the employer is running through the platform.

Its cloud-based app allows smaller employers to create and syndicate job listings for full-, part-time or contract roles to jobs boards that are most important in their market without separately posting to each one.

Balderton Capital led the Series B investment in Workable joined by 83North and Notion Capital. The funding brings the total amount raised by Workable to $34.5 million.

Read the full article about Workable Technology’s funding at Dow Jones VentureWire.

Write to Lora Kolodny at lora.kolodny@wsj.com. Follow her on Twitter at @lorakolodny