Romanian startup Nestor gets a 2 million dollars investment to help companies excel operationally through an HR strategy based on employee skills

• The Romanian startup receives an investment of 2 million dollars from Eleven Ventures (who led the financing round), Underline Ventures, but also from angel investors from San Francisco.
• Nestor brings together the most important talent management operations through a competency-based approach to employees. Previously, the startup went through the well-known accelerator Y Combinator.
• The platform is used by medium and large companies from Europe, North America and Latin America. Achieving 98% organizational adoption, Nestor helps employees become more involved in the execution of business strategy and have greater autonomy over their career development.
• The company will use the investment to focus on accelerating expansion into newly entered markets and growing its sales and customer success teams.

Romanian start-up Nestor, a People Intelligence Platform that transforms the way organizations develop and retain employees by creating a common language focused on skills, today announced it has raised a $2 million investment round. The round was led by Eleven Ventures, with the participation of Underline Ventures and several angel investors from San Francisco. The investment fund Eleven Ventures, was an early supporter and played an important role in the global market expansion of technology companies such as Payhawk and Gtmhub, in the fintech and “future of work” verticals. Nestor is an alumni of the Y Combinator accelerator.

The transition to a hybrid work environment experienced over the last few years, together with global labor market trends such as “The Great Resignation” and “Quiet Quitting”, have forced organizations to fundamentally rethink and redefine employee development strategies . The inflexible architecture by which companies define jobs, or training programs created without considering the gap between the required skills and the actual competencies of the employee, no longer have a place in this new workforce dynamic. This also has a direct negative impact on the motivation of employees, who feel that they have no say in how they perform their duties at work. Future workforce development is agile, aligned with business needs and democratized to give employees more autonomy and opportunities.

Nestor is the People Intelligence Platform that brings together the processes of engagement, performance management and employee development, through a skills-based approach. The solution uses predictive analytics and an intelligent nudging automation system to help companies develop and retain employees. The platform connects the employee’s competencies with the most important talent management processes by creating a unitary profile based on skills, a profile that allows employees to identify new possible directions in their professional career or take on new roles within the company, based on both their own interests, as well as the needs of the company. With Nestor’s help, each employee is encouraged to take control of their own development, access new growth opportunities, get involved in transversal initiatives and learn future skills.

With an adoption rate of 98% across the organization, the Nestor platform is trusted by managers and HR leaders in visionary, mid-sized and large companies, including top Fortune 500 companies in Europe, North America and Latin America. With the help of Nestor, employees see clear results in their career advancement, develop new skills and competencies, discover new opportunities, can access new roles in the company and stay with the company for the long term. Recently, Andreea Baciu – Chief Culture Officer of UiPath – became Nestor’s advisor.