SeamlessHR, a Nigerian HR startup has raised a seven-figure seed fund today (30.10.2020) with an aim to propel its pan African expansion. The round was led by Lateral Capital and Consonance Investment Managers, with participation from Ingressive Capital and Kenyan-based Enza Capital.
The Lagos-based startup secured a pre-seed investment from Tofino Capital in 2019. Tofino Capital is an early-stage investor particularly interested in emerging market B2B or enterprise tech companies and was said to have invested $150k for a 10% stake in SeamlessHR.
SeamlessHR has an impressive bunch of clientele in Nigeria and Ghana including Coronation Bank, Lagos Business School, NIBSS, Providus Bank, PwC, Sterling Bank, Wema Bank, and more than a hundred medium to large-sized corporates across multiple industries. The company is now planning to incorporate companies in other African countries as well.
What the founder has to say
According to Okeleji, co-founder and CEO at SeamlessHR, “We have what we can call the first-mover advantage in the enterprise HR cloud SaaS space in Africa. This round of funding will help us consolidate on this advantage and scale operations quickly across the continent.”
He wants SeamlessHR to become Africa’s Workday. For reaching this goal, the company will use its new round of funding to enhance its product suite and strongly drive pan African expansion.
What Lateral Capital has to say
Rob Elof, Managing Partner at Lateral Capital said, “In Emmanuel and Deji, we see two highly talented and experienced founders that have surrounded themselves with talent and have thoughtfully created a product suite and culture that will enable success in building Africa’s own WorkDay and more. Lateral Capital is thrilled to have the opportunity to be part of this journey.”
It was founded in 2018 by Dr Emmanuel Okeleji and Deji Lana, with headquarters in Lagos, Nigeria. The startup began as a tracking system for job applications and was called SeamlessHiring at the time. It has helped companies review applications and select qualified candidates for different types of roles.
In the last few years, it has developed into an enterprise-grade, cloud-based human resource management software, with the help of feedback from its first set of customers. Now, it helps medium to large-sized companies automate and optimize their entire HR process, right from recruitment to retirement. SeamlessHR has a centralised database structure, compliance to laws and regulations and depends on data analysis.
About Lateral Capital
Lateral Capital is a venture fund investing in early and growth-stage opportunities in Africa across financial services, healthcare, education, energy, agriculture, housing, logistics, mobility etc. It was founded by Rob Eloff and Steven Grin in 2017, with headquarters in New York, USA.
About Consonance Investment Managers
Consonance Investment Managers is a venture capital and private equity firm focused on making investments in high-quality, early-stage and developing businesses across sub-Saharan Africa. It was founded in 2017 by Mobolaji Adeoye, with headquarters in Lagos, Nigeria.
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