COMPANIES & STRATEGIES - TECHNOLOGY

Funding

IVC Luxembourg invests €1.3m in HR startup Osterus



Faced with an increasing number of applications, companies will find a solution with Osterus, an HR software powered by artificial intelligence capable of detecting the best profiles for a given position. (Photo: Shutterstock)

Faced with an increasing number of applications, companies will find a solution with Osterus, an HR software powered by artificial intelligence capable of detecting the best profiles for a given position. (Photo: Shutterstock)

Ilavska Vuillermoz Capital announced in a press release that it had participated in the €1.3m fundraising of human resources startup Osterus, which included the seed fund of Axel Springer and one of the co-founders of online neobank, N26.

This recent development attracted quite a lot of attention. While that does not guarantee the success of Osterus, it does show that the start-up--founded in 2019 from the meeting of Gilad Penn and Julian Herzog and brought into Springer's incubator by Maximilian Tayenthal, CFO and co-founder of N26--has great potential.

Based on their algorithm, the two men are able to "read" CVs to detect which candidate has the best potential for a job offer. "We aggregate data and use our analytics to create risk models, datasets and CV processing tools for businesses and consumers," state the founders.

“The software uncovers hidden data trends that could become vital in the hiring process--such as programmers who also play an instrument perform better at software development,” APX wrote in a blog post in 2020. In this post Springer played around with Osterus data to see if there were any characteristics that conditioned the success of an entrepreneur.

APX, the co-founder of N26, and the Luxembourg-based Ilavska Vuillermoz Capital have contributed €1.3m to the further development of the company.

This story was first published in French on Paperjam. It has been translated and edited for Delano.