Hungarian startup Blue Colibri closes HUF 450 mln investment round
Blue Colibri, a Hungarian startup focused on corporate internal communications, employee education and administration digitization, has raised HUF 450 million in funding, according to a press release sent to the Budapest Business Journal.
Previous investor OXO Technologies Holding was joined in the second round by Bonitás Venture Capital Fund II.
Bonitás Venture Capital Fund II will provide HUF 400 million, while OXO Technologies Holding will add HUF 50 million to its previous investment of HUF 60 million in this round. The company will use the funds for product development and to accelerate international expansion, with a focus on sales in Central and Eastern Europe and the DACH region. On the other hand, additional complex HR administration functions will be developed. The current team of 22 is expected to grow to 35 in the near future.
The HR-tech team will use the funds to further develop the product, expand domestically and internationally, and dynamically ramp up sales, primarily in Central and Eastern Europe and the DACH region.
Blue Colibri, founded in 2019, has developed the first Hungarian platform supporting engagement, organizational learning and internal communication. The platform works on both mobile and desktop and provides the opportunity for two-way communication and direct access to employees. In addition to the innovative app, they support their partners in better digitalization of their administration, organizational content production, community building, and employee education.
Since its launch, Blue Colibri has made everyday work easier for 50,000 employees in more than 60 companies and institutions.
The start-up has responded to the changing market needs, triggered by the effects of the epidemic, with extreme flexibility and a range of ideas. In addition to working on the digitalization of administrative work and onboarding processes, they have also incorporated social features such as a shared health program and the possibility to play a tipping competition during sports competitions.
In the fall, Blue Colibri will debut its latest development, Safety, which will provide effective support for the coordination of mandatory work and fire safety training and exams for smaller organizations. The unique feature of the Blue Colibri online platform is its flexible framework, which allows the system to be tailored to the maximum extent possible to the needs of the client, corporate culture, and digital maturity.
Over the past year, Blue Colibri's founders and team members have received a number of professional accolades. Among others, the project has won both the HR Komm Award and HR Best Award as the best HR tech solution, and the company was also included in StartUp Magazine's TOP 15 most promising Hungarian startups list this year.
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