Start-up CareerHarmony announced it has completed a $2 million capital raising round, held at a company value of $11.6 million, after money.
Investors in the round are current shareholders Iscal Holdings and the Manpower personnel agency. In an earlier round in March 2000, the company raised $4.3 million from these investors, at the same company value.
CareerHarmony develops a personnel screening and assessment system for job candidates and enterprise employees. The start-up completed its beta product last year, and started selling the product in the first quarter of 2001.
The company won several projects for employment agencies, and financing, technology, banking, customer service centers and airline companies.
Following its investment in CareerHarmony and a cooperation agreement, Manpower has three directors on the start-up's board of directors. Manpower also financed the setting up of CareerHarmony's London and New York offices.
CareerHarmony was founded in January 2000. The investors bought shell company HRI, which had developed automated screening systems, and used it as a basis for building a start-up. CareerHarmony has 40 employees.
The company has signed cooperation agreements with leading providers of services and products in the employment agency and consultation market who are interested in adding a technological dimension to their planning and consultation for customers.
In June 2001, CareerHarmony announced it had signed deals totaling $10 million in six months of operations in the US.
Published by Israel's Business Arena on 19 July, 2001