HRTech SaaS Startup HROne has raised $4 million in a Series A round led by Insitor Partners and participation from Prudent Investment Managers. Mumbai-based investment bank Radix Capital Advisors acted as exclusive financial advisors to the company.
Founded in 2016 by Karan Jain, HROne is on a mission to use HRTech to improve the quality of professional lives of employees and help them accomplish more at their workplaces. HROne is a cloud-based HR automation platform that helps companies eliminate mundane and repetitive HR tasks. By automating 80+ processes, HROne has simplified HR operations and driven a top-notch user experience for HRs and employees.
Powered by its strong HR domain expertise and digital technologies capabilities, the startup has established a firm footing in the HRTech market. The company has successfully bootstrapped its way since inception and has scaled its revenues to 8x in a mere span of three years, catering to 900+ customers. With the fundraising, HROne will focus on building a comprehensive platform that becomes the go-to solution for every possible HR need in the modern-day workplace. Further, the company will use the funds to drive expansion into newer and existing markets. With this inflow, the company intends to 10x its revenue growth in the next three years.
Talking about the funding, HROne founder Karan Jain said, “We are excited and supercharged with this series A funding from Insitor Partners and Prudent Investment Managers. These are exciting times for HR digital transformation globally. We aim to use this capital to grow our product capabilities, expand into newer markets, invest in our talent pool and drive a superior customer experience. We are in the hyper-growth phase in 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 further affirms, “We thank our customers and employees who have believed in our vision and supported us in crucial times.”
Nicholas Lazos of Insitor Partners, an impact investment firm said “HROne is leveraging technology to drive a transformational impact on the formalization of the Indian blue-collar economy. HROne, a comprehensive cloud-based HR automation platform, improves the 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. Karan and his team combine world-class product capabilities with a unique understanding of HR practices in India to provide a compelling value proposition to its clients. We are incredibly excited to partner with the team to solve for inefficiencies in the livelihood space”.
Prashasta Seth of, Prudent Investment Managers said “Companies need to make HR processes and systems less cumbersome and easy so that they can implement their organizational policies. We think HROne, with its unique interface, will help companies achieve this. Moreover, the scalability demonstrated by HROne over the last couple of years clearly indicates that it empowers companies to create a better HR environment. We were very impressed by the engagement of the HROne platform across 900+ customers. Further, it opens multiple future monetization possibilities like embedded finance, integration with insure-techs and workplace commerce players, and much more.”.