SmartHR Raises $140 Million in Series E

by Kay Aloha Villamor in July 2nd, 2024

SmartHR, a Japan-based cloud-native human resources and labor management software startup, has raised $140 million in a Series E funding round. 


The round was led by KKR and Teachers’ Venture Growth, the investment arm of Ontario Teachers’ Pension Plan, with participation from existing investors. 

KKR is a global investment firm offering alternative asset management, capital markets, and insurance solutions. It aims to generate attractive returns through a disciplined investment approach, employing top talent, and supporting portfolio company growth. KKR sponsors funds in private equity, credit, and real assets and has strategic partners managing hedge funds. Its insurance subsidiaries, under Global Atlantic Financial Group, offer retirement, life, and reinsurance products. 

Teachers’ Venture Growth (TVG) focuses on late-stage venture and growth equity investments in innovative technology companies globally. Partnering with bold founders, TVG aims to expand products, scale geographically, and lead markets. With a presence across Asia, North America, and Europe, TVG promotes long-term growth and active investing. TVG is part of the Ontario Teachers' Pension Plan Board, which manages $247.5 billion in assets as of December 31, 2023, across 50+ countries in diverse asset classes. 

SmartHR Use of Funds 

The company will use the funding to accelerate its growth through the development of new solutions, talent acquisition, and organic and inorganic growth strategies. 

About SmartHR 

Founded on January 23, 2013, SmartHR launched its cloud-native HR and labor management software in November 2015. It provides a suite of tech-enabled human resources management solutions focused on employee management and administration, growth, talent management, and employee productivity. It offers talent management features such as "performance evaluation" and "placement simulation" that support organizational strategy using accumulated data. It also provides a "recruitment management" function that unifies recruitment activities and employee registration. Through its comprehensive range of solutions, SmartHR serves a diversified spectrum of businesses, including large enterprises and SMEs. 

Funding Details   

Company: SmartHR Co., Ltd.  

Raised: $140.0M                    

Round: Series E  

Funding Month: June 2024                                                                                      

Lead Investors: KKR, Teachers’ Ventures Growth  

Additional Investors:   

Company Website:   

Software Category: HR and Labor Management  


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