nPloy Secures Additional EUR 2M Funding for Expansion in Romania and Bulgaria

Credit: Unspalsh

AI Job Search Platform nPloy Gears Up For Rapid Growth With Fresh Investment

Following a successful EUR 2 million investment round in August 2023, nPloy, the AI-powered job search platform, announces the recent securing of an additional EUR 2 million in funding. The capital injection is earmarked to accelerate expansion efforts in the Romanian and Bulgarian markets, building on the platform’s significant traction and growth in the Central and Eastern European (CEE) region.

The new funding will play a pivotal role in executing nPloy’s ambitious marketing strategy, with a primary focus on achieving an estimated 300% growth in its candidate base within Romania over the next two years. Additionally, the platform aims to strengthen its position as the preferred choice in the Business Process Outsourcing (BPO) and Information Technology (IT) industries while eyeing a new market entry in 2025.

Over the past year, nPloy has experienced remarkable success in Romania, witnessing a YoY increase of over 250%. The platform currently boasts a user base of 170,000+ individuals and has garnered subscriptions from 1,200+ companies in the CEE region.

Romania is noticing that we've seen significant traction in the country. With a 250%+ YoY increase, the @nPloy_App platform now boasts 170,000+ users and 1,200+ companies in the CEE region subscribed to the app.https://t.co/TIwMZF3fJ7

— Sofia Cohen (@Softcohen) February 1, 2024

Konstantin Tsonev, Co-founder of nPloy, expressed enthusiasm about the milestone, stating, “We’ve got big ambitions, and this milestone is a huge step towards making them a reality. As we look ahead, we are committed to refining and optimizing all aspects of the recruitment process.”

nPloy utilizes an AI-powered algorithm that directly connects candidates and employers, akin to the model of a dating app. The platform aims to revolutionize the recruitment process by matching criteria such as salary expectations, skills, experience, location, and job type.

Tsonev continued, “Our upcoming initiatives include the development of analytical functionalities that will provide real-time insights into labor market trends, enhancing transparency and accessibility for both companies and candidates.”

Having raised EUR 2 million in its initial investment round last year, nPloy set its sights on European expansion, with Romania being the first target market. The recent funding round reaffirms investor confidence in the platform’s innovative approach and signals the beginning of an exciting phase of growth and development.