Bambee, a Los Angeles, CA-based HR offering tailored for small and medium-sized businesses that makes hiring an HR manager affordable for every company, raised $15m in Series-B funding round. The round, which brought total funding to $32m, was led by QED Investors, with participation from Alpha Edison and Mucker Capital.
Founded in 2016 by CEO Allan Jones, Bambee aims to reshape the American employment landscape by providing a dedicated HR Manager to businesses that have never had access to one. Specifically, Bambee aims to be the conduit that reduces the friction-filled relationship that exists at companies due to a lack of HR expertise and strategy.
Between January and July of this year, Bambee’s customer base grew by five times, as more companies hire HR to help navigate furloughs and PPP loans. “We thought there was a void before the pandemic. It was magnified very clearly afterward.”said Bambee’s CEO Allan Jones. “The response across the industry has been almost equal in interest. You’ve got an entire army of the Fortune 500 level focused on making sure the relationship between employee and employer is good,” he said, adding that Bambee has few other competitors in for the majority of the businesses they target.
The company intends to use the funds to expand its service offerings and its ability to reach millions of small businesses.