Coople raises USD 21 million in funding and announces changes to Senior Management team
Leading on-demand staffing platform Coople continues its high-growth trajectory, disrupting the traditional staffing industry.
London – October 25, 2018 – Coople, operator of the largest on-demand staffing platform in Europe, announced that it has raised USD 21 million from One Peak Partners, Goldman Sachs Private Capital and Harbert European Growth Capital. The new capital will be used to fund further investment into Coople’s product and technology innovation, recruitment and continued expansion in Switzerland and in the UK ahead of further international expansion.
In total Coople has raised USD 45 million to date, following investment from One Peak Partners, Goldman Sachs Private Capital, Rothschild Paris Orléans and angel investors.
Since launching in Switzerland in 2009, Coople has been the front-runner in disrupting the $400+ billion staffing industry, building a unique platform and algorithm that matches workers looking for flexible jobs based on their experience, star-rating, location and availability with companies looking for staff on short notice, to manage their peaks in demand. Coople’s platform also provides end-to-end automation of the value chain, from planning, recruiting, on-boarding and hiring, to workforce management, payroll processing and payments, allowing companies to dramatically reduce the amount of time and cost spent on HR administration tasks.
Coople has over 310,000 registered workers and over 14,000 registered company accounts and currently operates in both Switzerland, where it has a leading market position, and in the UK, where it has been operating for two years delivering high-triple digit compounded annual growth rates. Coople works with large blue-chip clients including Deliveroo, ZfV, Inditex, Intercontinental Hotels, Four Seasons Hotels & Resorts, the Royal Automobile Club, and provides workers for the Silverstone Formula 1 Grand Prix, the BBC Proms, Coldplay concerts, NFL matches at Wembley stadium and many more high-profile events.
In addition to the funding round, Coople is announcing the appointment of Viktor Calabrò, Coople’s Founder, as Executive Chairman with a focus on innovation and thought leadership, as well as the promotion of Rinaldo Olivari, previously Managing Director for the UK, to Group Chief Executive Officer and of Anthony Vaslin, previously Managing Director for Switzerland, to Group Chief Operating Officer. These appointments take effect immediately.
“I am excited to see Coople embark on its next phase of growth and innovation supported by both new and existing investors in our mission to revolutionise the world of work by providing workers with easy access to high-quality flexible jobs that best suit their life commitments and at the same time offering great on-demand talent to companies across a wide spectrum of sectors” said Viktor Calabrò, Founder and Executive Chairman of Coople.
“David Klein, Managing Partner and Co-Founder at One Peak Partners, said “We are excited to continue supporting Coople alongside new and existing investors. Coople is enjoying extremely high growth rates in one of the most attractive technology market opportunities in Europe and is increasingly consolidating its position as the leading on-demand flexible staffing platform with investments in product, automation and continued international expansion.”
“The use of technology to automate the staffing industry’s value chain and provide superior convenience, choice and efficiency to both workers and companies is driving booming adoption of our solution as demonstrated by our growing success across our markets. We will continue to lead the path in innovating this industry and executing against a tremendous opportunity set in Europe and beyond. Our goal is to make great work available to millions of workers worldwide, levelling the playing field based on merit, skillset and performance whilst at the same time making sure workers earn fair wages and develop their careers to the full of their aspirations.” said Rinaldo Olivari, CEO of Coople.
Founded in 2009 by Swiss entrepreneur Viktor Calabrò, Coople operates the largest on-demand staffing platform in the world. The platform’s algorithm instantly matches workers looking for flexible, shift-based work with companies that have varying staff demands.
Coople has 140 full-time employees, offices in Zurich and London and 310,000 registered users in the UK and Switzerland. Many of Coople’s clients are blue-chip international companies with complex operational and recruitment needs that require temporary workers for jobs in retail, hospitality, office and logistics. Coople’s current clients include JustEat, Deliveroo, Zara, Swissport, Accor, Intercontinental Hotels, Swisscom, the Royal Automobile Club, Migros, AXA and Zurich Insurance.
About One Peak Partners
One Peak is a specialist private equity firm investing in growth stage technology and tech-enabled companies. One Peak provides growth capital to exceptional entrepreneurs, with a view to transform innovative and rapidly growing businesses into lasting, category-defining industry leaders.
About Goldman Sachs Private Capital
Goldman Sachs Private Capital provides long term capital to growth and middle-market companies. The group focuses on investing as a lead or minority investor and can provide both equity and debt financing.
About Harbert European Growth Capital
Harbert European Growth Capital provides financing to European growth businesses, predominantly in the technology, life sciences and environmental sectors. Typical investment sizes range from €1-20 million, with the flexibility to do larger transactions opportunistically.