Brazilian recruiting startup Revelo has raised US$15 million from a group of investors led by the IFC, saying it will help Latin American companies source and screen skilled talent.
This is the largest sum of money raised by any HRtech firm to date in the region, claimed the Sao Paulo-based startup in a statement.
Unlike most of the job boards in the region, Revelo does not target the blue-collar workforce, focusing instead on knowledge workers, mid- to high-income professionals in finance, management, technology and marketing.
“Most knowledge workers in LatAm still find their jobs offline. Our goal is to become a go-to online platform to help them navigate their careers,” says Lucas Mendes, co-founder of the startup.
Founded in 2014, the online recruiter’s success comes from its machine learning-based platform that serves as matchmaker putting businesses in contact with knowledge-workers looking for a job.
Revelo appears to follow in the footsteps of the successful online recruiting firms in China, such as Liepin, Boss, and Zhaopin, all of which focus on knowledge-workers.
“Candidates and recruiters in China and LatAm are faced with very similar problems, and Revelo’s model is inspired by the success stories of the Chinese players in the space,” says Revelo co-founder Lachlan de Crespigny.
Revelo, which has 100 employees and more than 3000 clients, claims that businesses can leverage their platform to identify and hire workers in a space of 14 days and at a 20% less cost than offline recruiters.