Creandum, Idinvest, Alven in €7m round for Clustree

It is the second time that the Parisian startup has raised funds from private equity backers, with Alven having provided a €2.5m round in 2015.

The latest round was led by Swedish venture capital firm Creandum, and was completed by Idinvest and returning investor Alven. Creandum's Carl Fritjofsson and Idinvest's Guillaume Durao are joining Clustree's executive board as part of the deal.

With the fresh capital, Clustree is planning to develop its sales, marketing, engineering and product teams, and to consolidate its market position in France as well as prepare its international expansion. The startup would like to double its number of employees to reach the 40 mark by the end of the year.

Previous funding
In October 2015, Alven provided a €2.5m early-stage round of funding for Clustree. The GP also took part in a seed round alongside business angels in 2014.

Company
Founded in 2014 by Bénédicte de Raphélis Soissan, Clustree is an automated HR recommendation platform, claiming to offer artificial intelligence to "remove human bias and stereotyping" from the interpretation of internal and external HR data. Its clients include Orange, Crédit Agricole, SNCF, Canal+ and L’Oréal.

The company is based in Paris and employs 20 people. Clustree claims to have registered a 230% revenue growth in 2016.

People
Idinvest Partners – Guillaume Durao (investment director).
Alven Capital – Raffi Kamber (partner).
Creandum – Carl Fritiofsson (principal).

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• Topics
• Expansion
• France
• Technology
• France
• Venture
• IDInvest Partners (AGF Private Equity)
• Alven Capital
• Creandum