Insitor Partners led a $4 million Series A fundraising round for the HRtech firm HROne. The funding round also included participation from Prudent Investment Managers.
The funding will be used by HROne to develop its technological infrastructure and penetrate both new and existing markets. The firm will also invest money to add new products, hire staff, and enhance customer service, as per reported by Inc42.
HROne is a platform for cloud-based HR automation that Karan Jain founded in 2016. It aids businesses in getting rid of repetitious human resource (HR) tasks. Over 80 human resource processes are allegedly automated by it.
“We are excited and supercharged with this series A funding from Insitor Partners and Prudent Investment Managers. We are in hyper growth phase of the Indian HRTech market, and we will expand into international markets in the near future. Grateful to our funding partners for recognizing the potential and backing our intent,” Karan Jain said.
The business claims that HROne would utilise the money to increase its income by 10 times over the following three years. Investment bank Radix Capital Advisors served as HROne’s financial advisor for the current fundraising effort.
“HROne is leveraging technology to drive a transformational impact on the formalization of the Indian blue-collar economy. The startup improves well-being, loyalty, and productivity of the workforce in the most capital-efficient, scalable, and sustainable way while helping organizations in their productivity and efficiency improvements,” said Nicholas Lazos, cofounder, and CIO of Insitor Partners.
According to HROne, its InboxForHR interface gives human resource specialists access to over 125 tasks.
According to HROne, its revenue increased eight times over the previous three years. It also claims to be serving over 900 clients.
Since 2016, HROne has been reinventing contemporary workplaces with state-of-the-art HR technology. By automating more than 80 processes, it is an HR automation platform that aids businesses in getting rid of tedious and repetitive HR chores.
HROne, consistently rated as one of the best HR software solutions, is on a mission to enhance professional life by assisting HR professionals and workers in finding fulfilment at work. It is relied upon by 900+ firms to make their everyday management, employee engagement, payroll, expenditure, employee lifecycle, and attendance processes simpler.