The recruitment platform has succeeded in carving out a place for itself on the French market. The group now has its sights set on expanding across the Atlantic. To help achieve this, Welcome to the Jungle has just raised a third round of funding totalling €50 million. Experts from AURIS Finance, a consulting firm specialising in mergers and acquisitions, examine this new market move.
Welcome to the Jungle (WTTJ) is both a media and a recruitment platform and has played a major role in rejuvenating the habits and customs of the recruitment sector in France. Through entertaining and informative content for candidates, Welcome to the Jungle has managed to find its audience in just a few years. The site is now the leading employment media in France. In addition to creating unique content, the platform offers companies support in developing their employer brand, as well as a space to publish their job vacancies. All are presented in a format that is different from conventional job ads. At the end of each posting, there is a presentation of the company in video format, very often produced by the director of the company, which shows the working environment offered to candidates.
Strong revenue growth
A service particularly valued by companies currently facing talent shortages, notably in the IT, data and technology sectors. Created in 2015, Welcome to the Jungle has 300 employees in two countries (France and the Czech Republic) and is proud to appear on the list of the 400 best employers in the French tech sector. At the end of 2022, the group reported a 60% increase in turnover compared to the previous year, with an annual recurring revenue of €30 million.
Transatlantic ambitions
In 2018, WTTJ raised its first round of funding of €7 million. A year later, the group’s founding president, Jérémy Clédat, already harboured ambitions to develop its platform in the United States. A €20 million fundraising campaign was launched, but the development project in the United States was hampered by the Covid health crisis. In January 2023, the company announced that it had raised €50 million from several long-standing investors (Revaia, Xange and Bpifrance) and newcomers, including Blisce (the fund of philanthropist and entrepreneur Alexandre Mars), Cipio Partners, the ADP Group and Kostogri (the investment company of Nicolas Béraud, Betclic’s Chairman and CEO). The purpose of this new round of financing is to support the company’s development on the American market by introducing new functionalities, recruiting new talent, and adapting existing solutions to the local market.
Experts at your side
In times of uncertainty, investors become more hesitant. When it comes to raising funds, the balance of power is now in the hands of the financiers. Nevertheless, French tech companies seem to be doing well. Following the example of Welcome to the Jungle, innovative platforms offering specific services that are particularly useful to companies in times of crisis continue to be the target of investors. These are always keen to make an equity investment. For the most promising companies, fundraising continues despite the uncertain macroeconomic environment. Thus, in January 2023, 68 transactions enabled French start-ups to raise almost €758.1 million. Experts from AURIS Finance, specialised by sector, will assist you in all your fundraising needs.
