CPE News (6/23/2020) – Humi has raised $15 million in Series A funding led by Tribe Capital with participation of La Tourelle Capital, Sherpa Capital, Y Combinator, 500 Startups, Funders Club, Garage Ventures, Liquid 2 Ventures, Struck Capital.
Ted Maidenberg, co-founder and partner at Tribe Capital, and Ying Soong, managing partner of La Tourelle Capital, will join Humi board of directors.
Founded by Kevin Kliman, Simon Bourgeois, Matt Loszak, Drew Millington in February 2016, Toronto based Humi is a leading all-in-one HR platform that provides small to medium-sized businesses with HR, Payroll, and Benefits solutions.
The funding will be used to further develop Humi’s software as Canada’s only true all-in-one people solution.
photo credit: Humi
News Release
Canada’s Leading All-In-One HR Platform, Humi, Closes $15M Series A
Led by Tribe Capital, funding will be used to further develop Humi’s platform for Canadian businesses which today includes HR, Payroll, and Benefits
June 23, 2020 06:00 AM Eastern Daylight Time
TORONTO–(BUSINESS WIRE)–Humi, Canada’s leading all-in-one HR platform that provides small to medium-sized businesses with HR, Payroll, and Benefits solutions, today announces $15M CAD in financing, including both equity and debt. The raise is led by Tribe Capital, a prominent US venture capital firm whose team has funded 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.
“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. “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. Saving employers time and money, Humi’s product consistently remains up-to-date with provincial government employment regulations while also offering education for employers on these updates.
“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.”
For more information, visit www.humi.ca.
About Humi:
Humi is Canada’s leading HR, Payroll, and Benefits solution for small and medium-sized businesses across Canada. Committed to uplifting Canadian businesses and their people, Humi supports and enables employees to take better care of their most important asset: their people. Before Humi, there was no truly unified solution that tied together all of the intricacies of employment for Canadian SMBs.
About Tribe Capital:
Tribe Capital is an early stage venture capital firm based in San Francisco, California. Tribe invests in Seed through Series B with an investment focus on recognizing and amplifying early stage product-market fit utilizing a collection of quantitative techniques that have been developed and honed over several years. Tribe Capital aims to combine the best of modern data science and analytics with the best of traditional venture capital to create n of 1 outcomes for its portfolio and investors.
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