Avanti Software, a Calgary, Alberta, Canada-based independent Payroll and Human Resources (HR) software company, raised $25 million in funding.
The round was led by Round13 Capital, with participation from Scotiabank Technology & Innovation Banking and existing investors.
The company intends to use the funds to expand its engineering and product teams to accelerate the development of its cloud platform and complete the transformation of its on-premise software to an HCM solution.
With these new funds, Avanti Software will be able to continue its mission to simplify in-house payroll and build better workplaces for mid-sized companies across Canada.
Company: AVANTI SOFTWARE, INC.
Funding Month: February 2022
Lead Investors: Round13 Capital
Additional Investors: Scotiabank Technology & Innovation Banking
Company Website: https://www.avanti.ca/
Software Category: Payroll, HR, and workforce management solution
About the Company: Avanti was started in 1980 and acquired in September 2016 from the company’s retiring founders by co-CEO, Amin Lalani. Avanti been processing payrolls and developing HR technology in Canada for over four decades, Avanti’s SaaS Human Resource Management System (HRMS) solution helps mid-sized Canadian companies empower and engage their people to build better workplaces. Avanti provides a payroll, HR, and workforce management solution purpose-built for the Canadian market, that specializes in Payroll & Benefits, People Management, Workforce Management, and Talent Acquisition. Avanti’s entirely Canada-based workforce has more than tripled to 110 employees since the acquisition, the company anticipates growing its team to 130 people by the end of 2022 and 180 within three years.