The Rockaway Capital investment group is sending another of its start-ups out into the world and selling its stake in the Techloop.io tech start-up, in which it invested in 2017 and 2018. Techloop will become part of LMC, which is part of the Finnish Alma Media Group. Both parties agreed to refrain from providing details of the transaction.
Today the Techloop start-up, which was founded in 2016 by Joao Duarte, Paul Cooper and Andrew Elliott, operates in the Czech Republic, Hungary, and Slovakia. It focuses on interconnecting companies and IT professionals, thus significantly increasing the hiring of new employees. The platform allows hundreds of participating companies to select from a database of over 16,000 individuals, directly offer their open positions, and also create a company profile and work on building their brand as an employer. Companies thus gain a tool that helps them address the critical lack of IT specialists.
Thanks to this acquisition, LMC will enhance its abilities in the area of on-line hiring while taking advantage of an established brand and a regular visitor base.
“We’re glad that we found a strong partner for Techloop that can help them keep growing. Over the last three years we’ve gone a long way together and accomplished a lot, which is something we’re proud of,” says Rockaway investment partner Andrea Lauren.
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