Munich start-up Retorio receives millions

An institutional investor from London has joined Retorio's current financing round for the first time. The sum is apparently in the millions, but the start-up is not providing more precise details.

The Munich-based start-up Retorio is bringing AI to the HR department and has now received millions in a financing round. Half of this comes from London-based fund Basinghall Partners, the first institutional investor. The other half comes from existing investors and a new private investor. Retorio intends to use the money to acquire customers and further develop its products.

"As a digital company that offers a service that supports physical distancing, we have weathered the crisis relatively well," says co-founder Christoph Hohenberger. Retorio was founded in 2018 as a spin-off from the Technical University of Munich. With the help of AI, it analyzes videos of applicants, for example, to create a personality profile. The aim is to make the selection process more objective and fairer.

"We are delighted to have added Retorio to our pool of digital enablers and are confident in the team's ability to position the company as a leader in its field with various potential use cases," says Andrew Irvine, Founder and Managing Partner of Basinghall Partners. The fund focuses on B2B companies across Europe.