Canada-based all-in-one HR platform Humi recently announced that it has raised CAD$15mn in Series A funding round. The platform provides small to medium-sized businesses with HR, payroll, and benefits solutions.
The company raised the funding in both equity and debt. The funding round was led by early-stage venture capital firm Tribe Capital. Tribe has also funded several successful software companies, including Slack and Carta.
To help meet the growing demand for its products and services, the funding will be used to further develop Humi’s software as Canada’s only true all-in-one people solution, said the company in a statement.
“Humi was founded on the notion that people are the most important part of any business,” said Simon Bourgeois, Co-Founder and Co-CEO of Humi. “We are proud to have helped over 4,000 Canadian companies maximize their efficiencies and be better employers, and we’re on a mission to do the same for the other million.”
With COVID-19 bringing a new shift in traditional businesses adopting a remote-friendly work culture, there is more demand than ever for cloud-based employment solutions. Since March, Humi has seen an 80% increase in demand from companies looking to hire, onboard, pay, and track vacation all from within the cloud.
“Cloud-based HR, Payroll and Benefits systems are continuing to make a big impact in the US, and we are excited about the massive potential for Humi to lead the growth of this industry within Canada,” said Ted Maidenberg, Co-Founder and Partner at Tribe Capital.
He further added,“If COVID-19 has taught us anything, it’s that a company’s people are their most valuable asset, and we are thrilled to invest in Humi whose product allows employees to be supported regardless of location.”
Launched in 2016 via the Y Combinator startup accelerator, Humi’s mission is to make life easier for businesses and their employees through streamlining employment processes into an all-in-one people software.
While most HR tech companies build for customers in multiple countries, Humi has made the decision to be hyper-focused on the Canadian market and is supporting employers and employees with built-in product features that reflect the nuances of building and employing people within Canada.
“Humi is an intuitive, easy-to-use platform for both our employees and the People & Culture team,” said Bianca Ciccarelli, Director of People & Culture at Greenhouse Juice and Humi customer. “Running a lean business is important to us and optimizing our employment practices through Humi has helped our team save time on the entire employee lifecycle, while also giving our employees access to a people platform that suits their needs.”
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