Singapore-based Cloud software provider close out growth funding round led by institutional investors
A major disruptor in the Cloud-based HR and recruitment tech scene in Asia, HRBoss confirmed today that it has raised US$2 million in funding led by Malaysia’s financial and IT services conglomerate, Pacific & Orient Berhad (“P&O”). This fund raising is advised by HL Bank’s Investment Banking team.
This capital will be used to power expansion across the Asia Pacific market. Altogether, the fast-growing SaaS company has raised US$14M since being founded in 2011.
Bernie Schiemer, CEO and Founder of HRBoss, today commented, “Naturally, we’re excited to have the participation of two of Asia’s powerhouse conglomerate behind us. As a company born and bred in Asia, it makes sense for us to have the strength of the region’s biggest and most influential investors behind us. HL Bank and P&O share the same values and vision as we push into the next phase of our growth.”
Rosie Gan, Country Head of HL Bank, commented, “We are delighted to be able to connect our clients in Malaysia and Singapore. We hope that P&O’s strategic investment and partnership with HRBoss will accelerate their expansion particularly in Malaysia. We appreciate the support given by them and we look forward to assisting more companies to find the right partners in this region.”
Since launching in 2011 HRBoss has become one of Asia’s hottest SaaS companies, generating buzz for its innovations in the HR and recruiting tech space. Recent accolades include ‘Best Big Data Platform’ at the 2015 Stevie Awards and ‘Best International Software as a Service’ at the international Cloud Awards.
Schiemer continued, “SaaS in Asia-Pacific is set to become a massive market in the next few years. With a combined population of over seven times the size of the US, mixed with steady growth in annual GDP and low adoption costs, Cloud SaaS in the HR and recruiting space here in Asia is set to explode. With 3 platforms and 3 different groups of customers, HRBoss is like 3 start-ups in 1. The past 4 years have been about getting the products right. Now, we’re all about growth. We’re looking forward to use the extra funding to strengthen our foothold in Asia and expand our business, drive sales and marketing, and invest in enhanced product capabilities which will be felt directly by our customers to help power their businesses. Bring it on.”
HRBoss customers include the world’s most recognizable brands across all industries, including government agencies like Monetary Authority of Singapore (MAS), Economic Development Board (EDB), 3 of Singapore’s major universities ( SIT, SIM & SUTD) and enterprises (UOB bank, Lazada, Fitness First, KFC, NETS, Nissan, Fiat Chrysler etc.)
HRBoss is Asia’s leading provider of workforce planning analytics software. There are 3 SaaS products in the HRBoss suite: HiringBoss, the ATS recruiting platform for corporate HR |
EmployeeBoss, the workforce Big Data platform for the C-Suite | StaffingBoss, the CRM/ATS for recruiting firms.
Born in Asia in 2011, HRBoss is headquartered in Singapore and has 3 SaaS platforms in the Human Capital and recruiting space. All HRBoss Cloud solutions are intuitive, highly-configurable and are supported locally on-the-ground across Asia. Customers include world-leading organizations and government agencies, including Nissan, Allergan, Changi Airport Group, Metlife, the Monetary Authority of Singapore (MAS), and the Economic Development Board (EDB) of Singapore.
About HL Bank
HL Bank is the Singapore branch of Hong Leong Bank Berhad, a Malaysia-based full service financial services group. HL Bank has a full banking licence and offers Investment Banking, Private Banking, Corporate Banking and Global Markets services in Singapore. Its Investment Banking team specialises in public and private fund raising in both equity and debt capital markets, mezzanine capital financing, M&A advisory and corporate restructuring.
For more information on HL Bank, please visit http://www.hlb.com.my
About Pacific & Orient Berhad
Pacific & Orient Berhad is a company listed on the Main Market, Bursa Malaysia. The principal activities of the Company are investment holding and the provision of management services. The Group operates in four business segments, which include insurance, information technology, investment holding and money lending.
To learn more about Pacific & Orient Berhad, please visit http://www.pacific-orient.com