The latest investment comes from the Gates Foundation and Helios Digital Ventures, following the company's initial $10 million Series A round in 2022.
Sources close to the company indicate that the new capital will be utilized to facilitate its growth across Africa, potentially involving acquisitions. Last year, SeamlessHR was in discussions to acquire a human resources technology startup in Nigeria.
Although the company aimed to raise $10 million, it ultimately secured $9 million, according to an anonymous source who was not authorized to disclose details. This new funding round elevates SeamlessHR's total capital raised to approximately $25 million. In 2022, the startup completed a $10 million Series A round with contributions from TLCom, Capria, Lateral Frontiers, Ingressive Capital, and Enza Capital. Additionally, it received an undisclosed seed round from the same investors along with Consonance Investment Managers in 2020, and a $150,000 pre-seed round from Tofino Capital and Ventures platform in 2019.
“Over the last 5 years, we have expanded across the continent to become the dominant HR and Payroll Software for medium to large enterprises in Africa. While we continue to accelerate our work to optimize workforce productivity in both the public and private sectors across the continent, much of our attention will also be on empowering hardworking Africans with responsible credit products that will help them use their employment as collateral to enjoy a better life,” wrote Emmanuel Okeleji, SeamlessHR’s Co-founder and CEO, in a statement announcing the raise.
SeamlessHR, founded in 2018, provides a cloud-based HR software solution for streamlined human resources management. Our comprehensive suite of tools addresses core HR functions, performance management, payroll, and recruitment. In 2024, we expanded our offerings to include an e-procurement platform. SeamlessHR has quickly become a leading HR technology provider in Africa, serving clients in Nigeria, Ghana, and Tunisia, including such notable organizations as PwC, Sterling Bank, and the Lagos Business School.