HROne, a Software-as-a-Service (SaaS) provider for human resource (HR) management, said it raised $4 million in a Series A round led by Insitor Partners, with participation from Prudent Investment Managers.
HROne plans to use the capital to build a comprehensive platform to cater to all possible HR needs in the modern-day workplace and expand into newer and existing markets, the startup said in a statement.
The Noida-based startup was founded in 2016 by Karan Jain. It provides a cloud-based HR-tech platform that automates over 80 processes.
“We aim to use this capital to grow our product capabilities, expand into newer markets, invest in our talent pool and drive a superior customer experience,” said Jain.
“We are in the hyper-growth phase in the Indian HRTech market, and we will expand into international markets in the near future,” he added.
The company aims to increase its revenue by six-fold in the next three years, according to a statement.
Until now, HROne has been bootstrapped, catering to over 900 clients. In the last three years, the company’s revenue has grown by three times.
“HROne is using technology to drive an impact on the formalization of the Indian blue-collar economy. It improves the well-being, loyalty, and productivity of the workforce. Karan and his team combine product capabilities with an understanding of HR practices in India to provide a value proposition to its clients," said Nicholas Lazos of Insitor Partners.
HROne has customers including food company Bikanervala, home appliance firm Haier, women-focused digital community POPxo, and beauty company MyGlamm among others.
"Companies need to make HR processes and systems less cumbersome and easy so that they can implement their organisational policies. HROne, with its interface, will help companies achieve this,” said Prashasta Seth of Prudent Investment Managers.