Propel, a Berlin, Germany-based platform that focuses on connecting tech communities and talent, raised €2.5 million in seed funding to expand its platform and accelerate the growth of tech communities.
The round was led by No Such Ventures, with participation from APX (a joint venture of Axel Springer and Porsche), Golden Egg Check, and the Future of Learning Fund.
With this new infusion of funds, Propel is poised to accelerate its expansion plans, enhance its platform capabilities, and forge new partnerships with tech communities worldwide.
The startup offers an all-in-one platform that allows developer groups, talent incubators, training schools, and other communities to leverage its resources for the growth of its members.
Speaking on the rationale behind this community-powered business model, Sunkanmi Ola, Co-founder and CEO of the startup shared… “Tech communities in high-growth markets like Africa have emerged to bridge gaps in education, capacity building, and inclusion. They nurture talent, organize events, and respond swiftly to global trends. However, they face challenges in solving last mile problems and achieving financial sustainability while making a meaningful impact. “
Propel leverages cutting-edge technological advancements to facilitate intelligent matching decisions for companies on a global scale. By harnessing the power of data, Propel delivers a personalized and customized experience for tech professionals across diverse communities and partner companies.
Company: Propel, LDA
Round: Seed Round
Funding Month: July 2023
Lead Investors: No Such Ventures
Additional Investors: APX, Golden Egg Check, and the Future of Learning Fund
Company Website: https://withpropel.com/
Software Category: CaaS (Community-as-a-Service) platform
About the Company: Founded in 2020 in Berlin by co-founders Seun Owolabi, Sunkanmi Ola, and Abel Agoi. Propel is a SaaS HR tech startup that helps fast-growing companies engage with a diverse ecosystem of tech communities, developed through its CaaS (Community-as-a-Service) platform. Propel provides tech communities, such as developer groups, talent incubators, and training schools, with access to job opportunities, benefits, and financial services. Propel is revolutionizing talent acquisition and pipeline building with its commitment to responsible and regenerative practices. In contrast to opportunistic approaches like headhunting or poaching, the startup deeply engages with ecosystems and utilizes its proprietary technology to identify the most exceptional talent within communities.