Viterbit Seeks Funding Round to Expand into European Markets

Spanish startup Viterbit, specializing in AI-driven recruitment solutions, is planning a new financing round of between six and eight million euros to accelerate its international expansion. The company, which currently operates in Spain and Mexico and aims to strengthen its presence in Europe, focusing on countries such as Italy, France, Poland, and Romania.

“With this funding round, we are looking to triple our recurring revenue during 2025 and 2026 and expand our presence in key markets in Europe,” Dimitri Nicolau, Co-Founder and CEO of Viterbit told CincoDías. Nicolau added that the main objective of this round, which will close in the first quarter of 2025, is to accelerate the company’s internationalization. Viterbit already has clients in countries such as Argentina, Chile, and Germany.

Viterbit’s technology optimizes recruitment processes through the use of AI. Its flagship product, MIA, is an autonomous recruiter that interacts with candidates to gather information and streamline the formalization of job offers, matching them to the best-fitting profiles.

“This innovation allows companies to significantly reduce the costs associated with the recruitment process, approaching a tenth of traditional expenses,” said Nicolau. He noted that the platform has proven effective in sectors with high demand for personnel, such as information technology, construction, and hospitality.

These claims are supported by data provided by Viterbit, which states that the platform enables a 42% higher hiring rate than traditional methods, along with 31% cost savings per hire.

Since its founding in 2020, Viterbit has achieved significant success in international markets. In 2022, the company completed a €1.6 million (around US$1.7 million) funding round, with investment from 4Founders Capital, Lanai Partners, Roma Ventures, and business angels including Carlos Blanco, Oriol Juncosa, and Enrique Linares.

This financial support has enabled the company to strengthen its management team, notably with the recent appointment of Aarón Cogolludo as Chief Revenue Officer, according to Santiago Millán, a journalist for El País. Cogolludo brings valuable experience from companies such as Iberia, Google, and Personio

Viterbit is targeting a revenue of €3 million (around US$3.2 million) in 2024 and €5 million (around US$5.33 million) in 2025. With a team of 35 people across key areas like engineering, sales, and customer support, Viterbit is poised to execute its growth plan and continue evolving its AI-powered platform.