HR software Nestor gets $2 million for its People Intelligence platform
- Nestor, the human intelligence platform that helps hybrid organizations engage, develop and retain talent, raises a $2 million funding round led by Eleven Ventures. The tower is joined by Highlight companies and some San Francisco-based angel investors.
- The investment follows Nestor’s B2B product adoption rate increasing to 98%, and the arrival of a new advisor – UiPath’s Chief Culture Officer, Andreea Baciu.
- With this new capital, Nestor plans to grow its sales and customer success teams, accelerate its expansion into new US and Latin American markets, and invest in further product development.
“Each employee is unique. We envision a world where every employee is given the right opportunity at the right time to continually learn and improve the skills that will help them succeed. We help organizations have an impact on the development of every employee and enable HR managers to develop agile human resource management strategies that go beyond the traditional professional approach by placing skills at the heart of their operations. talent management,” said Bogdan Apostol, CEO and co-founder of Nestor. , investment reviews.
Founded in 2018 by Raluca and Bogdan Apostol, Nestor is a Romanian-based HR software startup headquartered in San Fransisco that strives to deliver 50% more employee performance by connecting people with technology. The team has created a smart coaching tool that helps organizations develop a leadership-focused corporate culture. Nestor’s People Intelligence platform provides managers with insight into the performance of their team members. To date, more than 10,000 employees worldwide use the product.
“Bogdan and his team are reinventing the multi-billion dollar people analytics and talent management software market by providing workforce visibility into non-linear assets such as employee skills and capabilities. employees, commitment, performance, culture and professional mobility in a simple and codified way. We are excited to join Nestor’s journey to provide an end-to-end human intelligence platform to support organizations around the world,” said Vassil Terziev, Managing Partner of Eleven Ventures.
Bogdan Iordash, General Partner at Underline Ventures, adds that he has known the founding team of Nestor for a long time and will help them identify the best partners to scale with globally.
Organizational talent management reinvented
Nestor co-founders Raluca and Bogdan Apostol came up with the idea of creating HR software for organizational agility and resilience based on their previous experience leading teams. Bogdan, who is the CEO of Nestor, has a decade of experience in software engineering, while Raluca, in the role of CPO, brings experience in coaching people.
In 2018, the team participated in Season 18 of Y Combinator, the US startup program known for investing in companies like Airbnb and Dropbox. Regionally, the startup was part of the Orange Fab accelerator in Romania and eventually rolled out its team collaboration solutions at Orange organization-wide.
Essentially, Nestor’s HR software combines employee engagement, performance development management and planning with a competency-based approach. The software uses predictive analytics and nudge automation to help companies develop and retain talent.
By creating personal talent profiles, Nestor allows employees to choose the best vertical or horizontal career development paths based on their interests and the needs of the organization. Thus, each employee is empowered to take ownership of their own development, access new growth opportunities and participate in cross-organizational initiatives.
Fueling expansion in Latin America and the United States
Today, Nestor is trusted by HR leaders from medium to large companies in Europe, North America and Latin America, including Fortune 500 companies. The new round of seed funding will allow Nestor to grow its sales and customer success teams as well as to relaunch its expansion in the United States and Latin America.
The startup will invest in product innovation as it plans to launch its smart career path module. This module would allow employees to easily explore the different career paths they can follow and the skills they need to acquire to successfully achieve their career goals.