Alven Capital which led Clustree’s first round 18 months ago is thrilled to announce that Clustree is raising a €7M Series A with Creandum and Idinvest Partner.
Clustree offers artificial intelligence to to make internal and external HR data blind to stereotypes and human bias. The mission is to build a technology solution that delivers fact-based and proactive decision making for career development and recruitment.
With very limited sales and marketing resources, the company has been able to secure multi-year contracts with massive international enterprises. The solution is now used across 30 different countries by industry leaders such as Orange, Crédit Agricole, SNCF, Carrefour and L’Oréal, helping them to dramatically reduce external recruitment costs and increase employee retention.
In 2016, Clustree experienced 230% revenue growth and 100% client retention, and was named a Cool Vendor by Gartner which recognized that “Clustree is unique in that its usage of natural-language processing (NLP), machine learning and predictive analytics goes beyond talent acquisition to also support other talent mobility and HR topics.”
The €7m Series A funding will allow the company to develop its sales, marketing, engineering and product teams, consolidate its market position in France and prepare for international expansion.
