Tyba, the online recruitment platform founded by IE University alumni, closes a $3.1 million round of investment

Tyba, the online recruiting company founded by three IE University alumni, has just closed a large investment round with an injection of $3.1 million. The news was announced today on Techcrunch, a leading blog on entrepreneurship around the world. The injection of capital is Tyba’s largest to date since its creation in 2011, and comes from initial investor Sunstone Capital, based in Copenhagen, and from a new investor, Impulse, a venture capital fund firm which forms part of the Kuwaiti Investment Authority (KIA), the seventh largest sovereign fund in the world. As a result Impulse has now joined the company’s board.

This latest round of funding comes just 11 months after the online recruitment platform announced a seed round of funding totaling $1.2 million, evidencing the rapid rate at which Tyba is making progress in the candidate hiring sector, helping them “find a job that excites them.”

Tyba, which connects and matches top international candidates with job opportunities at the world’s best startups and technology businesses, is currently the largest of its kind in Europe in terms of the number of firms on its platform. The company was founded by Eiso Kant, Jorge Schnura and Philip Von Have, while they were still students of IE University’s Bachelor in Business Administration. Tyba now has a workforce of 28 people from 16 countries, aged between 18 and 46 years old.

Jorge Schnura, Co-founder and VP of Tyba Users explained that the latest round of funding has consolidated Tyba as Europe’s largest recruitment platform for startups. "It has brought added impetus that will help the company achieve its long-term goal of fixing inefficiencies in recruitment processes.”

Izzat Abou-Amarah, CEO of Impulse, commented on his company’s investment in Tyba. “We at Impulse are keen to be supporting Tyba and its vision of a world where everyone can easily find a job that excites them. Over the past year we have seen first-hand how the company has developed the team, resources and attitude needed to make that vision a reality. Tyba’s team, technology and execution of key projects has impressed us and we are very happy to be supporting the company moving forward.”

Jimmy Nielsen Fussing , Managing partner at Sunstone Capital, also expressed his delight  at closing the round, adding: “Since Sunstone invested  in Tyba a little less than a year ago, it has already taken a huge step towards becoming the preferred startup recruitment platform in Europe. Today, more than five hundred startups trust Tyba to deliver quality candidates and that number is currently growing exponentially.” Nielsen Fussing underscored that fact that “Tyba has a natural curiosity that always challenges the Status Quo, which we believe is the ingredient for their success. We are thrilled to be part of the journey."

Tyba currently boasts over five hundred startups in 14 different European cities on its platform – more than any of its competitors. Between August and September of 2014, it saw a 200% growth in month on month company registrations. This latest round of funding will help the company increase these figures considerably, with over 1,000 companies expected be signed up to the platform by the end of the year. 

ABOUT TYBA

Tyba is an online platform that is re-imagining the process of junior recruitment globally by connecting and matching the most suitable talent available with job opportunities at the world’s most exciting startups.

Founders: Eiso Kant, Jorge Schnura, Philip von Have

Founded: September 2011

Headquarters: Madrid, Spain

Total funding (to date): $4.7 Million

Investors: Sunstone Capital, Impulse (Part of the Kuwaiti Investment Authority - KIA)

Team: 28-person-strong team representing 16 nationalities, all between the ages of 18 and 46 years.

Tagline: Find a job that excites you

ABOUT IMPULSE

Impulse invests in cutting edge or high potential technology companies. The company’s strength lies in its dynamic and diversified portfolio that provides a broad array of technology solutions, establishing a platform that enables its portfolio companies to expand their operations in the MENA region.

ABOUT SUNSTONE CAPITAL 

Founded in 2007, Sunstone Capital is a leading European early-stage technology and life sciences venture capital firm. The partnership manages around €700 million in committed capital across seven funds. The technology portfolio includes companies like Blackwoodseven, Crate, Fame Analytics, GetYourGuide, Issuu, Kontact.io, and Neo Technology.