Enterprise News

Wellington invests more in Experteer

Jun 09 issue

Venture capital firm Wellington Partners is investing a further €8 million (£7 million) in high-end job service Experteer to aid the company’s international expansion.

Eric Archambeau, general partner at Wellington (pictured), says, ‘Since our first investment in March 2007, the management team has succeded in convincing more than 850,000 members [to sign up] as well as over 4,800 headhunters.’

Munich-based Experteer, which operates a website that matches senior professionals who submit their details with vacancies paying at least ?60,000, has a presence in eight countries across Europe and will now target new territories. It already has a white-label deal with The Independent to incorporate its job search into the newspaper’s website.

Wellington, which has funds of ?800 million under management, was advised by German professional services firm CMS Hasche Sigle on its investment in Experteer. It was the only investor in this Series B round for the three-year-old company, which is also backed by new media-focused investors Holtzbrinck Ventures and BV Capital. The amount invested in Experteer's Series A round remains undisclosed.