Tuesday, December 06, 2022

Corporate funding: 35 million euros for female start-ups: Localize wants to expand into the USA

Localize Founders

Franzie Low, Hanna Marie Asmussen and Lisa Dahlke (left to right) seek to simplify employee mobility. Photo: @rubsterbest

Düsseldorf Three women, one company: Hanna Asmussen (32), Lisa Dahlke (32) and Franzie Lou (33) founded their company Localize in 2018. Since then, they have offered software aimed at human resources departments and employees, which simplifies employee mobility.

They are now receiving 35 million euros in new capital for their start-up from US venture capitalist General Catalyst. Berlin Visionaries Club, Web Summit Fund, Frontline Ventures as well as Job van der Voort, CEO of Remote and the founding team of TaxDoo are also participating in the funding round.

You are investing in a company that claims to have grown sales six-fold in the past 12 months and more than tripled its customer base. The fresh capital is to be used to fuel expansion in the US market.

The Hamburg-based company just acquired another startup out there: TruePlan is a US HR-tech startup with about 20 employees. They should now help with the technical and sales expertise to open the US market to Localize.

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Possibility of localization due to corona epidemic

Asmussen, Dahlke and Löw developed their software out of their frustration four years ago. As a start of the job, he had spent a lot of time abroad. Asmussen was a consultant at Boston Consulting Group and Dahlke worked as a human resources manager at the game software company GoodGame Studios.

However, working remotely was not easy and they were looking for a solution to make their remote working as comfortable as possible.

When they were established, they were ahead of their time. Because they are relying on a trend that has taken over their lives over the past three years: the coronavirus pandemic has made working from home or on the go the “new normal” and created immense opportunities for localization . Additionally there is a shortage of skilled workers, which means that employers are making possible new forms of work to retain new talent and people.

Efficiency for companies and employees

To Sahar Meghani from Visionaries Club, it’s clear: “Localize is a very relevant product because the tedious process of employee mobility and relocation has been made as efficient and seamless as possible for modern companies.” Berlin investors are convinced that Localize will bring a “very rare combination found”: a company that measures impressively, a unique product that customers clearly value, and a first-class team.

Sahar Meghani says, “We are delighted to follow Hannah, Lisa and Franzie on the market leadership path in global mobility.”

More: Ifo: Even in summer, every fourth employee stayed in the home office

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