Brazilian human resources startup Solides received an investment of $100 million by private equity firm Warburg Pincus in exchange for an undisclosed minority stake.
Co-Chief Executives Monica Hauck and Alessandro Garcia say that the use of the company’s HR packages has been reducing staff turnover and the time clients take to hire employees.
Solides provides human resources management software to 12,000 Brazilian companies, which have around 4 million employees.
The proceeds will be used to expand product development and to fund potential acquisitions of rivals focused on HR management.
Announcement: Solides Receives $100M for HR Platform