50skills has secured €2.5 million from Frumtak Ventures to enhance its HR SaaS onboarding solution for high-turnover industries in global markets.

Target Information

50skills is a prominent Icelandic software-as-a-service (SaaS) provider specializing in human resources and new-hire onboarding solutions. The company has recently announced the successful acquisition of €2.5 million in funding, which it aims to use for scaling its services in international markets, targeting sectors with high employee turnover, particularly in Scandinavia and the United Kingdom.

The 50skills platform significantly shortens the time it takes for new employees to start actively contributing to their roles. This is achieved by centralizing employee data, reducing repetitive data entry across multiple systems, and integrating seamlessly with the tools that employers already utilize. The platform simplifies various onboarding tasks, such as automating new hire paperwork, activating required training video lessons, and effectively incorporating new employees into payroll and Human Resource systems.

Industry Overview

The HR technology sector, particularly in Iceland, is experiencing rapid growth due to increasing demand for efficient onboarding solutions amid workforce shifts. High-turnover industries, such as retail, hospitality, technology