HR Duo, an Ireland-based company that provides HR solutions to SMEs, raised €4.5 million in a Series A funding to accelerate product development, grow its workforce, and drive international expansion.
The round was led by Puma Private Equity and joined by the original seed investors, including Alan Merriman of Elkstone and Joe Hogan of Openet.
The funding round will provide the much-needed resources to reach the next stage of its strategy, with further future funding rounds expected as the company grows internationally.
Jerome Forde, CEO of HR Duo, said: “We are delighted to welcome Puma Private Equity on board, who will provide not only the necessary funding but also the expertise that will help drive our ambitious growth strategy. Our near- to mid-term objectives are rapid revenue growth and staff expansion, not only in Ireland but also in the UK, where we see enormous untapped opportunity for the unique services that HR Duo offers. This is an exciting time for the company, and we look forward to a bright future revolutionising the HR needs of thousands of SMEs worldwide.”
The firm plans to considerably increase its headcount in the coming year, across its offices in Ireland, the UK, and Romania. New roles will be primarily in its sales and knowledge teams, with a concurrent expansion of its software development team.
Company: HR Duo
Round: Series A
Funding Month: January 2023
Lead Investors: Puma Private Equity
Additional Investors: Alan Merriman and Joe Hogan
Company Website: https://hrduo.com/
Software Category: HR Solutions
About the Company: HR Duo is an HRTech company that provides intelligent HR solutions for modern workplaces. HR Duo built its solutions especially for SMEs, with affordable, sensible pricing to match. The company provides services such as training and development, talent management programs, compensation strategy, and resource management software that manages time, leave, and staffing information, enabling businesses to automate all the day-to-day human resource practices and place critical data in the hands of managers so that they can concentrate on the value-add activities. HR Duo design, write, and automates policies and processes, programming them into tailored platforms for a complete, end-to-end HR solution. Its services are available online as a cloud-based Software as a Service (SaaS).