Singapore-based human resources (HR) automation platform Omni HR announced on Monday that it recently closed $2.4 million in an oversubscribed pre-seed funding round, co-led by Alpha JWC Ventures and Picus Capital.
The round also saw participation from FEBE Ventures, Basis Set Ventures, Ratio Ventures and Frances Kang at Horizons Ventures, Omni HR said in a statement.
It has also been backed by a number of high-profile angel investors, including former executives from Namely and Ultimate Software.
With this new funding, the company will further enhance its all-in-one product offering, including the launch of a recruiting module by Q3 and a performance management module by Q4, respectively.
Founded in 2021 by former Goldman Sachs executive Brian Ip and veteran data engineer YC Chan, Omni HR provides a seamless employee management system that helps companies digitize and automate the end-to-end employee lifecycle. end on a single platform.
“Most companies in Southeast Asia currently use local HR software that only supports basic administrative functions, leaving many HR processes to perform.
manually. Meanwhile, HR software is one of the software categories that needs localization the most, due to different employment rules in different countries,
“This effectively creates a unique opportunity for local players to create a modern and scalable Southeast Asia-based employee management platform,” said Brian Ip, co-founder of Omni HR.
Omni HR sees the market shifting from traditional HR or payroll software to more advanced and modern solutions that address the end-to-end employee journey. Its goal is to become the employee management platform that allows organizations to digitize employee records, automate administrative tasks, and seamlessly interact with employee data across different systems.
Omni HR believes that with the ongoing digital transformation and software adoption trends in Southeast Asia, its employee management platform would eventually become an important part of the software infrastructure for the region.
Since its soft launch in March, Omni HR has been adopted by a number of companies to automate manual HR processes such as employee onboarding, leave management, and document management. The company is now coming out of stealth mode and ready to expand in the region, starting with Singapore and Indonesia.
“Our initial traction has been promising and we are off to a great start. We are better than the incumbents not only because of our superior technology solutions, but also because of our understanding of the local context which allows us to design a product that meets the needs of our customers,” said YC Chan, co-founder of ‘Omni HR.
Investors in this round bring a unique combination of operational expertise and strategic support. Alpha JWC is the investor in various top startups in Southeast Asia including Ajaib, Carro and Spenmo, while Picus Capital has extensive experience in investing in HR technology companies such as Personio, Bennie and WorkMotion.
“Omni is building an end-to-end HR suite that spans the entire employee lifecycle and automates repetitive workflow to help management manage their people operations. With solutions that address the issues faced by most, if not all, business types, we believe Omni HR has the unique potential to grow rapidly and become the HR software as a service (SaaS) of choice in the region,” said Jefrey Joe, Co-Founder and General Partner of Alpha JWC Ventures.
While the HR function is the most crucial in every business, Florian Reichert, Managing Director of Picus Capital Partner, believes that the Southeast Asian market is still white space without a comprehensive, localized tool to effectively manage a hand and provide a strong employee experience.
“Omni HR has built a clearly superior solution by going beyond basic administrative functionality to automate repetitive workflows like onboarding across HR departments. This need has been particularly accelerated by an increasing number of software programs used in a business and an increasingly remote workforce that is more difficult to manage with traditional information technology (IT) infrastructure,” he added.
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