Humaans announced they have closed a $5M Seed round led by Frontline Ventures to accelerate the development of its employee on-boarding and management platform. Other backers of the round are Y Combinator, Mattias Ljungman’s Moonfire and former head of Stripe Issuing, Lachy Groom and a number of other participants.
“Companies are frustrated with poorly integrated HR stacks, making processes slow while exposing them to compliance risks,” says Luperti. “This is why the adoption of point solutions is increasing dramatically. Companies are adopting what’s best based on their needs and stage of growth to address their people needs”.
For example, a company may choose an applicant tracking system, a performance management system, contract management software and an employee engagement platform, and so on. “This makes the ‘all-in-one’ model antiquated, creating the opportunity for a solution like Humaans to emerge. We’re building a layer of infrastructure for all employee data”.
The funds will be used to help accelerate the development of the product vision and scale operations.
Announcement: Humaans Raises $5M for Employee Platform