TCV acquires minority stake in Pracuj

Financial details remain undisclosed, though the stake is believed to be in the region of 30% with a value of PLN 1.5bn, according to reports in the Polish language version of news site Forbes.

Pracuj intends to expand internationally and grow its product offering. TCV managing partners John Doran and David Yuan are joining the firm's supervisory board.

The Pracuj group manages four companies: online job board Pracuj.pl; applicant tracking system eRecruiter; Ukrainian job board Rabota.ua; and emplo.com, a platform to connect HR communication and processes in companies.

In March 2017, TCV acquired UK payment services provider Retail Merchant Services (RMS) via its ninth fund, TCV IX. Founded in 1995, TCV provides capital to growth-stage private and public companies in the technology industry.

Company
Founded in 2000, Pracuj is headquartered in Warsaw. It provides products and services to companies for employee recruitment, staff retention and development in central Europe. In March 2017, the company announced it was seeking an investor to help it grow a presence in foreign markets. The firm employs 700 staff.

People
Technology Crossover Ventures – John Doran, David Yuan (managing partners).
Pracuj – Przemysław Gacek (CEO).

Advisers
Equity – Trigon (financial due diligence); GCA Altium (financial due diligence).
Company – Weil Gotshal & Manges (legal).

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• Topics
• Expansion
• Support services
• CEE
• Technology
• Poland