HRLocker, a Clare-based human resources software developer, announced that it has raised €2 million in a funding round led by MACX3 Investments Ltd, alongside other entrepreneurs, families and private EIIS investors. The company plans to utilize the fresh capital to expand its business beyond Ireland and the UK.
Founded in 2013 by Adam Coleman, HRLocker is a cloud-based HR software service that digitally transforms the people management and recruitment efforts for professional companies. The company’s goal is to make work life easier for both employers and employees. The platform manages the entire employee lifecycle with features such as employee database, time management, performance management and HR and payroll reporting. It has developed a HR management platform targeted at SMEs with 25 to 500 employees.
Speaking about the capital raised, Founder & CEO of HRLocker, Adam Coleman, said:
Employees are an organisation’s most valuable asset. At HRLocker we’re hugely passionate about making the workplace work better for businesses and their people. We’re constantly improving the platform to ensure it meets the requirements of our customers, whether that’s visualising data for reports or enabling more seamless flexible working. With this investment, we will continue to innovate HR solutions and bring the power of HRLocker to more businesses and to a wider international market.
Based in Lahinch, HRLocker revenue has seen a 139pc revenue growth in the 12 months prior to the funding round. This is because of increased demand for HR management platforms that make flexible working easy as more and more businesses go remote or hybrid. The startup claims to have around 45,000 daily users and more than 700 customers who use its HR management platform.
Director, MACX3 Investments and Consulting, Hugh O’Donnell, added:
When it comes to digital transformation, HR is playing catch up with other business functions, such as finance and marketing. Since the massive shift to remote working in 2020, demand for effective, user-friendly employee management software solutions has exploded. I firmly believe HRLocker has the team and the technology to be a global leader in this space.
The HRTech platform announced plans to double its employee base in early 2021 to meet growing demand for its business during the pandemic. Currently, HRLocker has 47 employees – most of whom work remotely from different parts of the world.
