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Bulgarian startup nPloy secures a follow-up investment exceeding EUR 1.5 million

The funds are allocated as a result of meeting key success indicators set in the first investment round.

Sofia, November 23, 2023 - Following a successful initial investment round of EUR 2 million in August of last year, the innovative Bulgarian job matching platform nPloy has secured a follow-up funding of over EUR 1.5 million to fuel further expansion into new markets.

The primary investor for the additional funding remains the Bulgarian VC fund "Morningside Hill," with the current investment tied to the achievement of key success indicators set in the initial round.

Over the past year, nPloy has witnessed high interest and received exceptionally positive feedback in Romania, resulting in a 160% increase in the platform's user base. Additionally, the team implemented several key technical enhancements and introduced new features. In 2023, nPloy evolved into the most integrated platform for working with internal HR systems (ATS) globally. The platform now offers integration with all major HR selection systems, including SuccessFactors, Workday, Lever, and more than 40 other systems.

The newly acquired financial resources will be invested in executing the company's marketing strategy, which includes a projected candidate base growth of over 300% in Bulgaria and over 10 times in Romania over the next 2 years. In the Romanian market, the company aims to establish itself as the preferred platform in the BPO industry, with plans for aggressive market entry in 2025.

"The current investment in nPloy is a step forward in our development and a key element in achieving our ambitious goals. Looking to the future, we continue to optimize all micro-processes in recruitment and job search. Soon, we will begin working on analytical functionalities of the platform, providing valuable real-time information on the labor market trends for both companies and candidates,
making the job market more transparent and accessible," nPloy’s co-founder Konstantin Tsonev said.

Currently, nPloy is used by over 150,000 users and more than 1,200 employers in the country, including SAP, Postbank, Accenture, and others. The platform offers an extremely transparent and efficient selection process. Companies gain access to each candidate’s professional experience and skills, excluding personal data such as names, gender, age and current employer. That guarantees maximum objectivity and fairness of the process to avoid unconscious bias. Employers also have access to the anonymous candidate pool of all users to filter and analyze the market potential of each vacancy they plan to post.

About nPloy
nPloy is an innovative recruitment platform that leverages cutting-edge technology to revolutionize the hiring process. Thanks to its AI-powered algorithm, it directly connects candidates and employers based on the dating apps model, matching their salary expectations, skills, experience, location, job type, etc.

A Bulgarian startup, nPloy has already attracted 150,000+ users and 1,200+ companies since its launch in 2018. Last year the team raised 2M euro in its first investment round setting the goal of expanding the platform to other European countries, Romania being the first one. The company was also awarded ‘Startup of 2023’ by Forbes Business Awards Bulgaria.
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