Studitemps receives € 9.2m to invest in its tech development
- Studitemps receives € 9.2 million capital increase from existing shareholders including Iris Capital, HV Capital and Xange
- The new funding will allow the company to further digitalize its services and launch new tech features, including an AI-powered automated job matching platform and further optimization of the Deep Tech HR technology
- The HR tech company has shown resilience in the crisis year 2020 and increased its turnover by 20% to €94.7 million last year
Studitemps, the leading digital platform for flexible work for students and graduates in Germany, announced today a new funding round of €9.2m from existing shareholders including Iris Capital, HV Capital and Xange.
The capital increase will allow the company to further digitize its services and launch new tech features, including an AI-powered automated job matching platform, seamless self-service for companies and students, and further optimization of the Deep Tech HR technology on which Studitemps is built, positioning the company as a leading provider of digitally-driven workforce solutions.
On Studitemps, students can find flexible jobs among over 10,000 job opportunities based on their availability, location and areas of interest. Since June 2020, students have been able to use the Studitemps app to get hold of a new job every day in just one click or to book themselves in with a company for several months, allowing an experience as flexible as student life itself.
Companies can also independently create a shift plan for a whole month and more on the Studitemps customer portal within two minutes and thus schedule students flexibly and in line with the continuously fluctuating staffing requirements.
Thanks to the mix of a well-developed digital infrastructure with tech solutions for all areas of HR (from contracts to accounting) and personal support at 24 locations across Germany, Studitemps proved itself as a Service provider for its partners. As a result, the HR tech company has been an employer for up to 10,000 students every month in 2020, providing them with financial stability and self-determination in their choice of jobs and supporting companies in areas such as logistics, pharmaceuticals or social care.
"For over 10 years, Studitemps has been a job partner for students, helping them find flexible jobs through perfect matching and individual selection. However, 2020 has shown as never before how important the labour force of students is as they formed a supporting pillar in system-relevant areas. But even before the crisis, and even after it, students have and will continue to play an irreplaceable part as a workforce, keeping the economy running. More and more companies are thus recognising their potential even before they graduate. Studitemps acts as a bridge between the two parties and has established itself as the first point of contact for jobs dedicated to students and graduates. This new funding gives us the opportunity to further expand our tech solution in order to ultimately guarantee the perfect matching between students looking for jobs and companies looking for personnel. The goal is for students to be able to secure a job as easily and quickly as `they order food online´”, said Eckhard Köhn, CEO of Studitemps.
"Studitemps has been able to grow by 20% during the crisis, whereas traditional HR service providers have struggled with a drop in revenue. The company has made the leap from a highly specialized HR service provider with elaborate manual processes to an HR Tech and Workforce as a Service provider. This digitization is the foundation for continued thriving business and exponential growth in a market that still has a lot to offer. Out of 3 million students in Germany, half to two-thirds have a job while studying: there's still plenty of potential here for Studitemps as a leading partner for students and young professionals, which the team will certainly explore," adds Curt Gunsenheimer, Managing Partner at Iris Capital and Studitemps Advisory Board Chairman.
The HR tech company Studitemps operates Germany's largest digital platform for jobs for students and graduates. As a Workforce as a Service provider, Studitemps offers academics and companies a perfect match for flexible jobs. With a mixture of personal support, an app for students and a well-developed customer portal, Studitemps offers companies and young talents the greatest possible flexibility, uncomplicated processes and a high level of responsiveness. The German company (studitemps.de), founded in 2008 and headquartered in Cologne/Germany, is represented at 24 locations nationwide, employs over 300 people internally and is an employer for up to 10,000 students every month.