HROne Secures Funding To Help Businesses Automate HR Operations

HROne Secures Funding To Help Businesses Automate HR Operations

SUMMARY

The $4 Mn Series A funding round was led by Insitor Partners

HROne will use the fund to build its tech platform and expand into new as well as existing markets

In the current fundraising, investment bank Radix Capital Advisors was the financial advisor to HROne

HRtech startup HROne has raised $4 Mn in a Series A funding round led by Insitor Partners. Prudent Investment Managers has also participated in the funding round. 

HROne will use the funds to build its tech platform and expand into new as well as existing markets. The startup will also deploy capital to introduce new offerings, hire talent and improve customer experience.

According to the startup, HROne will use the funds to scale its revenue by 10x in the next three years.

In the current fundraising, investment bank Radix Capital Advisors was the financial advisor to HROne. 

“HROne is leveraging technology to drive a transformational impact on the formalization of the Indian blue-collar economy. The startup improves well-being, loyalty, and productivity of the workforce in the most capital-efficient, scalable, and sustainable way while helping organizations in their productivity and efficiency improvements,” said Nicholas Lazos, cofounder and CIO of Insitor Partners. 

Founded in 2016 by Karan Jain, HROne is a cloud-based HR automation platform. It helps companies eliminate repetitive human resource (HR) tasks. It claims to automate over 80 human resource processes.  

HROne said that its interface called InboxForHR enables human resource professionals to perform over 125 tasks. The said interface has helped the startup improve its product adoption and user experience.

“We are excited and supercharged with this series A funding from Insitor Partners and Prudent Investment Managers. We are in hyper growth phase of the Indian HRTech market, and we will expand into international markets in the near future. Grateful to our funding partners for recognizing the potential and backing our intent,” Jain said.

HROne claims to have scaled its revenue by 8x in the last three years. It further asserts that it is serving over 900 customers.

In the Indian HRtech space, it competes with the likes of inFeedo, Darwinbox and SalaryBox, among others. 

According to a report, the global HRtech industry, which was pegged at $24.04 Bn in 2021, is likely to become a $35.68 Bn market by 2028. The industry will grow at a CAGR of 5.8% between 2021 and 2028.

Meanwhile, in 2021, the Indian HRtech market captured $3.6 Bn of the global market.

Note: We at Inc42 take our ethics very seriously. More information about it can be found here.

You have reached your limit of free stories
Become An Inc42 Plus Member

Become a Startup Insider in 2024 with Inc42 Plus. Join our exclusive community of 10,000+ founders, investors & operators and stay ahead in India’s startup & business economy.

2 YEAR PLAN
₹19999
₹7999
₹333/Month
Unlock 60% OFF
Cancel Anytime
1 YEAR PLAN
₹9999
₹4999
₹416/Month
Unlock 50% OFF
Cancel Anytime
Already A Member?
Discover Startups & Business Models

Unleash your potential by exploring unlimited articles, trackers, and playbooks. Identify the hottest startup deals, supercharge your innovation projects, and stay updated with expert curation.

HROne Secures Funding To Help Businesses Automate HR Operations-Inc42 Media
How-To’s on Starting & Scaling Up

Empower yourself with comprehensive playbooks, expert analysis, and invaluable insights. Learn to validate ideas, acquire customers, secure funding, and navigate the journey to startup success.

HROne Secures Funding To Help Businesses Automate HR Operations-Inc42 Media
Identify Trends & New Markets

Access 75+ in-depth reports on frontier industries. Gain exclusive market intelligence, understand market landscapes, and decode emerging trends to make informed decisions.

HROne Secures Funding To Help Businesses Automate HR Operations-Inc42 Media
Track & Decode the Investment Landscape

Stay ahead with startup and funding trackers. Analyse investment strategies, profile successful investors, and keep track of upcoming funds, accelerators, and more.

HROne Secures Funding To Help Businesses Automate HR Operations-Inc42 Media
HROne Secures Funding To Help Businesses Automate HR Operations-Inc42 Media
You’re in Good company