Iris Capital leads €12 million financing round for Studitemps
Germany's biggest provider of jobs for students and young professionals has successfully concluded its Series C financing round and brought on board Iris Capital, another European growth investor. The existing partners XAnge, Seventure and b-to-v also participated in this round. The capital will help STUDITEMPS to further develop web-based workforce management in the realm of temporary employment and to consolidate its nationwide market leadership by adding new locations and personnel. Furthermore, the company is also slated to take initial steps towards internationalisation.
"For STUDITEMPS, the investment is both an award and incentive", says the founder and managing director Andreas Wels. "Increased turnover in the double-digit million range that we earned in 2014 shows heightened market confidence in STUDITEMPS and offers a glittering prospective for the temporary employment market worth billions". The reason being that in comparison to standard providers, STUDITEMPS on the strength of its network comprising 300,000 plus students is equipped to provide exceptionally quick placements for larger assignments and special requests for language and IT specialists. Here, workforce management i.e. the entire process, starting from advertising for a post to recruiting, administration and planning of shifts down to invoicing and personnel accounting, is already run on a partially automated basis. "We would like to optimise this" adds Wels.