Humi, Canada’s leading all-in-one HR platform that provides small to medium-sized businesses with HR, Payroll, and Benefits solutions, announces $15M CAD in financing, including both equity and debt. The raise is led by Tribe Capital, a prominent US venture capital firm whose team has funded successful software companies, including Slack and Carta.
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To help meet the growing demand for its products and services, the funding will be used to further develop Humi’s software as Canada’s only true all-in-one people solution.
“Humi was founded on the notion that people are the most important part of any business,” said Simon Bourgeois, Co-Founder and Co-CEO of Humi. “We are proud to have helped over 4,000 Canadian companies maximize their efficiencies and be better employers, and we’re on a mission to do the same for the other million.”
With COVID-19 bringing a new shift in traditional businesses adopting a remote-friendly work culture, there is more demand than ever for cloud-based employment solutions. Since March, Humi has seen an 80% increase in demand from companies looking to hire, onboard, pay, and track vacation all from within the cloud.
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“Cloud-based HR, Payroll and Benefits systems are continuing to make a big impact in the US, and we are excited about the massive potential for Humi to lead the growth of this industry within Canada,” said Ted Maidenberg, Co-Founder and Partner at Tribe Capital. “If COVID-19 has taught us anything, it’s that a company’s people are their most valuable asset, and we are thrilled to invest in Humi whose product allows employees to be supported regardless of location.”
Launched in 2016 via the Y Combinator startup accelerator, Humi’s mission is to make life easier for businesses and their employees through streamlining employment processes into an all-in-one people software. While most HR tech companies build for customers in multiple countries, Humi has made the decision to be hyper-focused on the Canadian market and is supporting employers and employees with built-in product features that reflect the nuances of building and employing people within Canada. Saving employers time and money, Humi’s product consistently remains up-to-date with provincial government employment regulations while also offering education for employers on these updates.