GENEVA, June 26, 2017 /PRNewswire/ --
hosco, the world's leading hospitality network, closed its Series A round, bringing investments in the Geneva-based start-up to 7 million CHF. Funding comes from multiple sources, such as existing shareholders, new business angels, and venture capital firms from London and Barcelona.
The latest investment will assist hosco's growth, allowing the company to deepen its roots in core markets and expand its reach to new geographies. Improvements to the product will continue to focus on features to provide companies with a complete set of tools for hospitality recruitment, while giving members additional services to support them throughout their career. Providing platform technology for schools to manage careers and alumni continues to be a priority, and hosco is working with national organisations to create specialised networks uniting the industry within individual countries.
"We're fortunate to have attracted the best possible investment partners in this round," said Olivier Bracard, hosco's Co-Founder & CEO. "All have solid expertise in online marketplaces and strong networks, and there's great alignment in our aggressive ambition and long-term vision."
"hosco has gained significant traction in the hospitality recruitment space since its founding, and the company is constantly innovating and creating new offerings, without detracting from their core service," said Fernando Castiñeiras from Athos Capital. "It's an exciting time to invest and help hosco secure its position as the number one tool for recruiters, educational institutions, and ambitious talents in one of the fastest growing global industries."
"Since 2015 the company has taken flight, experiencing 100% YoY growth of users, traffic, revenue for three consecutive years," said Adam Davis, Chief Marketing Officer. "With additional funding, hosco's plans for growth will accelerate, supporting our goal of reaching over 1 million members in the next three years." Strong performance in member acquisition and an employer-talent connection made every minute on the platform has lead hosco to increase focus on retention and engagement strategies.
hosco's team also continues to grow, having doubled the number of employees from 2016 to 2017. The adding of experienced C-level directors will help scale the business, and deliver on the aggressive development plans laid out. "Our team is a key competitive advantage," said Carl Julien, Co-Founder & COO, "and we will continue to seek out the best talents to support our growth."
Founded in 2011, hosco started as a platform assisting hospitality students in finding internships. The model quickly expanded to become a necessary tool for recruiters to advertise openings and secure qualified full-time talents in the hospitality industry. hosco operates from offices in Geneva, Barcelona, and Dubai, and is the leading specialised network for the hospitality industry worldwide.