See employees in data, leave HR paperwork to AI. HR startup Sloneek secures €3.6M for European expansion

Can a global solution for an overheated labor market or decreasing company productivity emerge from Central Europe? Yes, it can – as proven by the Czech-Slovak HR startup Sloneek. It enables managers and HR professionals in both small and large companies to see their teams through data, foster talent development, and manage employee efficiency and motivation. By integrating AI, Sloneek frees HR professionals from bureaucracy, allowing them to focus on people. The company has raised €3.6 million from a group of investors to fuel its expansion into Western Europe.

This is the largest investment to date for Sloneek, the fastest-growing B2B SaaS HR startup in the Czech Republic. Leading the current late-seed round is fund Purple Ventures II, joined by Venture to Future Fund and Vision Ventures, a repeat investor. In 2022, Sloneek raised €1 million from Presto Ventures and Vision Ventures, and in 2020 it received €350,000 from Vision Ventures. The new funding comes at a time when Sloneek is experiencing more than triple annual growth, expects revenues in the high single-digit millions of euros this year, and has doubled its client base – with most new clients now acquired outside of the Czech Republic.

“The investment comes at the perfect time. Companies are getting ready for a new era – over half of the productive workforce now consists of Millennials and Gen Z. This presents opportunities for more efficient work, but also risks if companies fail to adapt and manage this change. People are, without exaggeration, the alpha and omega of any economy’s success, and we have the chance to elevate how we work with them to a whole new level,” says Filip Lukac, CEO of Sloneek. “Our investors are well aware of our potential.”

The investment will help Sloneek further its technological development. Next year, the company plans to introduce an advanced platform for detailed human potential analysis through so-called “people analytics”, enhanced reporting tools for not just HR managers but also CEOs and CFOs, as well as various advanced integrations. This, in turn, should help the company triple its current revenue, an ambitious goal.

“Sloneek is on track to become a category leader in HR automation and analysis. Among other things, we aim to contribute to making AI a standard in an industry where there is still significant untapped potential,” says Lukac.

Next stop: Italy and challenging labor markets

Sloneek already operates in dozens of international markets. In addition to Czech and Slovak companies, firms across Europe and even the U.S. use its services. Notable clients include Lindt, Volvo, Savills, Panattoni, Knight Frank, and Czech startups like Carvago and Kosik. Sloneek aims to use this investment to not only enhance its technology but also strengthen its position in Western Europe, with Italy being the first stop.

“Italy is a very interesting market for us. On the one hand, local companies have long been struggling with a talent shortage – something the government is trying to reverse with various incentives intended to bring people back to Italy. On the other hand, there is a thriving startup scene which has been successful in developing a value-added economy,” says Filip Lukac. “Once we prove ourselves in Italy, we will use that experience to expand into other Western markets.”

“Sloneek allows HR professionals to focus on developing people and leave administrative tasks to technology, thanks to its AI tools. Behind the project is a well-aligned team of experienced professionals with a clear vision, which we fully support,” explains Jan Davídek, Partner at Purple Ventures.

“Sloneek is a ‘startup’ only in terms of its flexibility and speed. While working with them closely during the investment process, we experienced firsthand what capable management, a refined business plan, and a clear market-entry strategy look like. That’s uncommon for startups at this stage,” says Martin Banský, Vice Chairman & Investment Manager at Venture to Future Fund. “At VFF, we’re convinced that Sloneek’s product will succeed with new customers in international markets. From our experienced perspective, they have a bright future ahead.”

“Sloneek has grown rapidly since our investment, thanks to a superb product and team. They’re keeping their customer acquisition costs low and retention rates high. More and more companies are now transitioning to hybrid work models, which comes with its own challenges in terms of employee onboarding, day-to-day operations, and long-term engagement. Modern companies already view Sloneek as an essential part of their SaaS management stack,” adds Premysl Rubes, Managing Partner and Founder of Presto Ventures, which backed the company two years ago.

If you don’t see people in data, you’re not managing them. Companies are starting to realize that

The process of finding a suitable investor took about six months, and according to Filip Lukac, the outcome exceeded expectations given the current market situation. A key factor was that Sloneek found a solution to problems affecting nearly all Western European companies—talent drain and declining team productivity amid rising employee costs. Besides economic challenges, demographics and generational shifts are also at play. Sloneek helps companies manage these changes and prevent the loss of human potential.

Beyond usual HR platform features, such as digitizing paperwork, recruitment management, or onboarding, Sloneek offers robust strategic features that completely change how companies approach people management. These tools enable leadership to see team and individual performance through data, easily identifying employees whose potential is not being fully utilized, those at risk of leaving due to slow personal development, or those exhibiting long-term inefficiency.

For HR managers, Sloneek brings strategic work with people back to the forefront: developing employees and increasing their productivity, satisfaction, and loyalty. AI tools enable this by taking over daily administrative tasks. Sloneek’s goal is not to replace HR professionals with AI, but to free them from repetitive, often mundane tasks prone to human error.

“The average company loses 30 to 40% of its employee costs due to turnover, talent loss, and hiring unsuitable candidates – an issue not limited to the Czech Republic, but commonplace. And that doesn’t even account for the missed potential stemming from low productivity. These are huge sums, especially considering how expensive European labor is. HR managers could put a stop to this, but they’re buried in routine tasks and rarely have time for strategic work. Sloneek is helping to change that,” concludes Filip Lukac.