flex Closes $32M for HCM Platform
South Korea-based human resources management platform flex announced today it has closed a $32 million Series B round at a valuation of $287 million. The latest funding, which brings its total raised to $42 million, was led by Greenoaks, with participation from DST Global Partners.
“At flex we define HR as Human Relations, not Human Resources. We believe HR teams deserve world-class software to manage and service their employees, but today it’s clear that many organizations still use spreadsheets or legacy products to make ends meet, said Haenam Chang, CEO of flex.
The startup’s mission is to enable corporations to automate and streamline manual human resources work processes and focus more on people. Its automation tools optimize the employee experience to ensure seamless data flow across groups for use in payroll, e-signature support, on/offboarding and people analytics. It also plans to launch performance review and talents relation management tools in the first quarter of 2022.
flex will use the proceeds to scale operations to meet demand, advance its HR automation and SaaS products and increase its headcount.
Announcement: flex Closes $32M for HCM Platform