Intel Capital and Runa Capital invest $4m in Russian online marketplace provider
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The Eruditor Group, a Russian startup that runs a number of high-profile online marketplaces in Eastern Europe, has landed $4 million in Series A funding, led by Intel Capital and prolific Russian investment firm Runa Capital.
The startup, which includes Infodoctor.ru, Krace.ru and Vash–Repetitor.ru among its portfolio of business and professional-focused services, says it will use the funds to expand its already-200-strong team while pushing into new verticals and new markets. The 6-year-old company reveals that it is already profitable thanks to its range of sites which cover health, beauty, tutoring and sport instructors.
The startup’s sites connect businesses and freelancers consumers to sell their services across Russia, the Ukraine and Kazakhstan. The Eruditor Group’s sites all use a review and ranking system —as is near-standard for most marketplaces — in order to help users share experiences to help others identify and locate the right business or freelancer to meet their requirements.
Runa Capital is an existing investor in the Eruditor Group, having providing $600,000 in seed-level funding, and Andre Bliznyuk, partner at the early-stage VC, described the firm as a market leader in Eastern Europe.