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Techloop has received start-up capital from the international investment firm Rockaway Ventures. The company will use the investment primarily to expand into Central and Eastern Europe and to further improve its platform.
Techloop.io has been operating on the Czech market since January 2016 and offers a new, revolutionary solution for software developers who are considering a change of employment. Since its inception, thousands of developers and hundreds of companies have used the service, and the number of new Techloop users is growing by 50% per month. The acquired investment will enable the company to continue improving its product and to implement a planned expansion in Central and Eastern Europe. Entry into the Slovak market is planned for January, followed soon thereafter by expansion into Poland and Hungary.
“We are very pleased with the investment from Rockaway Ventures, as there are numerous synergies between our companies. Rockaway is a great partner for us – it has an outstanding reputation in the area of building online marketplaces in Central and Eastern Europe. It is also a major employer of IT professionals and, equally important, it contributes to the development of the IT community through events such as ROCDevs,” says Joao Duarte, CEO and co-founder of Techloop.
Techloop COO and co-founder Paul Cooper adds: “We have very ambitious plans for the future. We want Techloop to become the dominant player in the IT job market throughout Central and Eastern Europe. We are now looking into other regions that could profit from our model. Rockaway’s investment and experience will help us to rapidly carry out our plans.”
Techloop.io is number one on the virtual IT job market, where IT professionals come directly into contact with firms. Within this environment, software developers receive job offers directly from companies seeking employees while maintaining their anonymity. If they find work thanks to the system, developers receive an additional EUR 500 as a bonus. Techloop offers firms access to a large number of qualified candidates without the necessity of engaging the services of an expensive personnel agency.
Rockaway’s investment comes at a time when Techloop is introducing essential improvements of its existing platform. “We have added a number of new functionalities and improvements that will provide a better user experience. Companies and developers will surely value the easier registration, more sophisticated search capability and numerous improvements of the platform’s overall performance,” says Joao Duarte.
Techloop was established in 2015 by Joao Duarte, Paul Cooper and Andrew Elliot, who have more than 30 years of combined experience in IT recruitment.