Hono, a human resource technology startup has raised $5 million in funding round from test preparation firm Aakash+Byju’s managing director, Aakash Chaudhry.
Aakash Chaudhary invested $4 million in this round while $1 million was raised from other individual investors like Hemant Sultania of Aakash Educational Services Ltd (AESL), Amit Khanna of Amaya Ventures, and Harsh Gupta of Udayat Group.
Chaudhary will be on the Board of Directors of the Company and will also be actively involved in guiding the business operations.
The company said that Hono is looking to leverage the new funds to expand operations in India, the Middle East and Southeast Asia, increase market presence and strengthen its product offerings.
The Gurgaon-based Hono was founded in 2005 by Mukul Jain, It is a leading human capital management solutions company that provides simple, meaningful and scalable employee life-cycle and employee engagement solutions.
The company’s AI-enabled platform aligns employees and leaders for business results and helps transform the culture of the organization.
“Having Aakash Chaudhry and our new group of investors in the fold, makes the HONO journey even more exciting. With this new impetus, we will be able to take this further and do it globally, at scale,” said, Mukul Jain, founder & CEO, Hono.
It has over 300 customers including Indigo Airlines, Spencer’s Retail, Kanmo Group, Dainik Bhaskar, Al Fardan Group, NBC Bearings, HDFC Bank, Medicover, and Aakash + Byju’s.
As per the press statement, Hono has over one million employees on its AI-enabled platform and has achieved a 2-fold growth during the financial year 2022. With an aim to support 5 million people on the HONO platform in the current fiscal year 2023, it now intends to increase business and sales and double the number of customers.
“We expect Hono’s growth curve to show a much steeper rise hereon. Besides, we value the strong and constructive relationship with Hono, developed over years of association with them as a client,” said, Aakash Chaudhry, managing director of Aakash+Byju.
HONO is a premium HR-Tech Solution also offering a range of HR Services for all your requirements. HONO is committed to enabling employees through technology and services by providing innovative and simplified Human Resource Solutions to improve their productivity and happiness index.
HONO is an easy to configure, use and integrate, omnipresent multi-channel digital platform, bringing a new generation Hire to Retain Solution- HONO H2RS.