Berlin-based Nigerian HR-tech startup Propel has secured $2.74 million in seed investment to build ecosystems to power the future of work.
The funding round was led by Amsterdam-based No Such Ventures, with participation from APX (an accelerator by Axel Springer Digital Ventures and Porsche Digital), Golden Egg Check, and Future of Learning Fund.
The startup intends to use the funds raised, to drive the roll-out and adoption of its community-as-a-service platform and drive €1 million in revenue generated for communities by the fourth quarter (Q4) next year.
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Speaking on the funds raised, co-founder of Propel Sunkanmi Ola said,
“We realized communities are the building blocks of any tech ecosystem, particularly emerging market ecosystems, but nobody has been building for communities and the distribution layer for the tech talent pipeline had been missing. Most tech communities build their pool and upskill, but the last mile where you convert these talents to jobs is missing and communities struggle in that regard.”
Also commenting, Co-founder and Head of Strategy at Propel, Seun Owolabi said,
“At Propel, we’re championing more responsible and regenerative ways of hiring/building talent pipelines. Rather than deploying opportunistic practices like headhunting or poaching, we participate deeply in ecosystems, using proprietary technology to find the best talent within communities.
“And when we place people in jobs, our revenue is shared with the community they belong to, which is reinvested into programs and initiatives needed to get more people into tech. In summary, Propel is where ambitious companies come to find the talent that is just right for their needs and crowd-solve tech challenges while doing good at the same time.”
Founded in 2020 by Sunkami Ola, Seun Owolabi, and Abel Agoi, Propel is powering tech talent communities and connecting them to the global workforce, thereby tackling the global skills shortage.
The startup enables high-growth companies to move at super speed, by supporting their hiring needs, and matching them with tech talents, which enables them to focus on what matters.
By coupling smart assessment protocols with its tiered Work-Experience Model, Propel can drive deep data profiling on every individual in its ecosystem, to make intelligent matching decisions for companies across the world.
In exchange for providing last-mile infrastructure, Propel plugs into the diverse pools of talent within these tech communities spanning multiple skill sets, from design to software development, data science to no-code, and other digital skills. The HR tech startup makes its revenue from hiring and placement fees and rebates.
Propel is trusted by 100+ tech communities and has worked with top companies like Mercedes, Stepstone, Porsche, Orange Telecoms, and Farfetch. The startup has a presence across 15 countries in the world, serving over 400,000 members. Notably, it has placed more than 550 people into job roles across multiple countries.
The company’s goal is to grow to 500 communities with 1 million members across the board in 2024 and generate millions in revenue for communities through commissions from jobs, perks, and finance on the platform.
As the number of unfilled tech jobs rises, Propel seeks to mitigate this problem by connecting tech talents to a community where they can get jobs easily. Hence, the need to build more ecosystems to tackle the global skills shortage.
The startup’s unique, community-focused approach to driving the open talent economy has set them apart and is a solid addition to the Future of Work category.