Sprout Solutions Raises $10.7 Million in Series B

by Kay Aloha Villamor in May 22nd, 2023

Sprout Solutions, a Manila, Philippines-based HR tech software-as-a-service (SaaS) company, raised $10.7 million in Series B funding, bringing its total investment to $18.3 million.

The round was led by Cercano Management, with participation from prominent investors, including SoftBank Ventures Asia, AFG Partners, GSR Ventures, Integra Partners, ACA Investments, and Mynavi Corporation.

This funding round highlights Sprout's commitment to delivering top-notch HR and business solutions to companies in the Philippines.

“Securing this funding is a testament to the hard work and dedication of our team and our commitment to providing best-in-class HR and business solutions to companies in the Philippines,” says CEO and co-founder of Sprout, Patrick Gentry.

 “We are excited to work with our new investors to accelerate our growth and further expand our product offerings.”

Sprout Solutions offers a comprehensive software solution tailored to the unique requirements of Philippine businesses. Their platform simplifies and automates essential HR processes, enabling companies to streamline their operations effectively.

Company: Sprout Solutions Phil., Inc.

Raised: $10.7M

Round: Series B

Funding Month: April 2023

Lead Investors: Cercano Management

Additional Investors: SoftBank Ventures Asia, AFG Partners, GSR Ventures, Integra Partners, ACA Investments, and Mynavi Corporation

Company Website: https://sprout.ph/

Software Category: HRIS and Payroll Software 

About the Company: Founded in 2015 by Patrick and Alexandria Gentry, Sprout Solutions is an HR tech company that offers HR and Payroll applications and integrated solutions that streamline recruitment, employee engagement, and performance management processes. The primary goal of the company is to simplify and automate complex HR processes, such as recruitment, payroll, analytics, and performance management. Over the years, Sprout has served over 1,000 clients across various industries and has gained recognition as a trusted HR software provider. The company has received recognition from renowned technology review platforms like G2 and Capterra, and it boasts an impressive client base that includes AyalaLand, Beyond the Box, Canva, Lalamove, Lamudi, Dole, and many more.

Source: https://www.einnews.com/pr_news/634578284/hr-tech-startup-sprout-solutions-secures-10-7m-series-b-funding

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