Trigon advised Grupa Pracuj, a leading provider of Human Resources solutions that help companies recruit, retain, and develop employees in Central Europe, on the sale of a minority stake to TCV.
TCV provides capital to growth-stage private and public companies in the technology industry. Grupa Pracuj intends to use the funding to fuel international expansion and expand its product suite. As part of the investment, John Doran and David Yuan, General Partners at TCV, will join the company's supervisory board. Today's announcement marks TCV's first investment in Poland.
With more than 17 years of experience in the online recruitment market in Poland, Grupa Pracuj owns two of the most recognizable recruitment brands: Pracuj.pl in Poland and Rabota.ua in the Ukraine. The company offers two SaaS (Software as a Service) products: eRecruiter, the leading ATS (applicant tracking system), which has supported companies in effective recruitment for many years; and emplo.com, an innovative platform that helps companies improve their communication and HR processes. In 2016, with over 5.6m registered candidates, the company generated over PLN 200m revenues with ca. 40% EBITDA margin.
Founded in 1995, TCV has invested over $9 billion in leading technology companies and has helped guide CEOs through more than 100 IPOs and strategic acquisitions. TCV's notable investments include Facebook, Netflix, Spotify, and GoDaddy.
Przemysław Gacek, President of the Grupa Pracuj's Management Board, said,
"At Grupa Pracuj, we are continuously striving to learn and innovate and hence were looking for an investor that could provide both knowledge and inspiration. TCV is a perfect fit since they invest in and establish long-term partnerships with technology-driven companies such as ours. We look forward to working with TCV as we continue to develop and further expand our business. TCV brings decades of sector knowledge and deep experience in helping companies scale. We welcome their expertise as we continue to grow Grupa Pracuj's core businesses and expand successful SaaS solutions."
John Doran, General Partner at TCV commented,
"Grupa Pracuj is a great example of the type of company TCV looks to invest in. Led by Przemysław Gacek, the company has established itself as a market leader across Central Europe and shows incredible potential for further growth and international development. We look forward to working alongside the founders and the Grupa Pracuj's management team to support the acceleration and growth of its human resource solutions."