SeamlessHR announced today that it has raised $10 million in series A funding led by TLcom Capital, a venture capitalist company that has $200 million of VC assets under management across Africa and Europe.
In addition to TLcom, the funding round also received major contributions from global VC firm Capria Ventures, from existing investors like Lateral frontier ventures, Enza Capital, Ingressive Capital and several other strategic private investors.
The company announced that this new capital would be used to further strengthen SeamlessHR’s position as Africas leading cloud HR and payroll platform. It will help to grow the team and fuel the expansion of the company to Southern and East Africa with Kenya and South Africa as Operation Hub. The company also intends to add new products functionalities around artificial intelligence and HR data analytics.
What they are saying
According to Dr. Emmanuel Okeleji, the co-founder and CEO of SeamlessHR, the capital raise will help to optimise the growth of the firm.
“Thanks to our customers, we have become the leading cloud HR and Payroll SaaS in Africa in such a short time. But this is only the beginning. We are fanatical about customer success and this funding will enable us to invest in the continuous optimization of customer experience across all touchpoints, adding new features and functionalities to empower enterprises as they continue their incredible growth,” he said.
According to the company, it understands its position as a catalyst for business growth on the continent. “There is a significant growth in the cloud computing industry, the industry in Africa is expected to grow from its current estimated market size of $14.2 billion in 2021 to $31.4 billion in 2026. Seamless HR aims to be at the forefront of this and seeks to help African businesses leverage its greatest assets- the abundant human capital. “ said in its press release.
What you should know about SeamlessHR
SeamlessHR is an HR technology company focused on helping businesses in emerging markets become more productive and successful by deploying well designed, world-class technology solutions.
The company was founded in 2018 by Emmanuel Okeleji and Deji Lana, deploying world-class technology solutions to manage and streamline HR data and workflow end to end. It is the only company of its kind in Africa made by Africans to cater to the needs of African Employers and meet the demands of African enterprises from hiring of staff to their retirement.
The company recognizes the advancement and changes in workforce as it embraces remote work and currently caters to hundreds of companies. Its client base cuts across multiple sectors in Africa including renowned brands like PWC, Flutterwave, Sterling bank, TGI group, Lagos Business School, AXA and Chapel Hill Denham.