Hot on the heels of funding wins for Handybook and PeoplePerHour, another investment in an online labour booking company this month: Intel Capital is leading a $4 million Series A funding round into Russia’s Eruditor Group, an online marketplaces provider for freelancers and businesses in sectors including healthcare, beauty, sports and tutoring. Runa Capital is also investing in the round. Eruditor has raised $4.6 million to date.
Eruditor said it will use the investment to expand its team and grow existing and new verticals, and expand into new geographies. Commenting in a statement, Egor Rudi, CEO and co-founder of Eruditor, said: “I look forward to growing our business together to reach new customers and geographies and applying our investors expertise in scaling ecommerce companies in Russia and globally.”
Founded back in 2005, Moscow-based Eruditor is already profitable, and employs more than 200 people. It currently operates under several brands, including Infodoctor, Kracemasters and Vash Repetitor, offering services to professionals and businesses in all major cities in Russia, Ukraine and Kazakhstan. Eruditor’s services include search, reviews and ratings allowing users to find a suitable service provider. Its tutoring vertical has more than 90,000 education professionals signed up to offer services.
“Bringing businesses and freelance professionals online, and offering them a complete infrastructure for marketing their activities is a major enabler of entrepreneurship and online commerce,” said Arvind Sodhani, President of Intel Capital and Executive Vice President of Intel, in a statement. “We look forward to applying our expertise and global network to help Eruditor take advantage of the great opportunities the Russian and CIS markets have to offer.”
Runa Capital partner, Andre Bliznyuk, added in a statement: ”Eruditor Group projects are market leaders in their verticals in Russia and the CIS. The company helps people save time and effort when finding the right freelancer or small business — while also providing transparency, quality of service, predictability and fair price. We are excited to partner with Egor and his team, and we will put all of our resources to work to help the company grow, improve their product offering and expand into new verticals and new geographies.”