Jet HR, an Italian startup that aims to eliminate the bureaucracy surrounding payroll, HR, and running a company, recently raised $13.37 million (€12 million) in a seed round, bringing total funding to €16.7 million. The round was led by Picus Capital, with participation from existing investors Exor Ventures, Italian Founders Fund, and 2100 Ventures.
The round was also backed by Diego Piacentini, who, after leadership roles at Apple and Amazon, became the government Commissioner for Italy’s Digital Agenda; David Clarke, former CTO of the world’s largest HR company, Workday; Tony Jamous, founder of Oyster HR (a unicorn in the global payroll space); and Felix Blossier, founder of the French accounting unicorn Pennylane.
Jet HR, co-founded by Marco Ogliengo and Francesco Scalambrino, addresses companies’ frustrations while dealing with bureaucracy. It provides a technological platform in conjunction with qualified, approved Payroll Advisors. The company not only automates payroll (payroll processing, recruiting, and associated matters) but also enables the efficient administration of other administrative activities. Hundreds of satisfied customers appreciate the quick clarity on payroll expenses, the convenience of drafting legitimate contracts and employing personnel, the elimination of paper from expense reports and contracts, and the monetary savings caused by the automatic application of tax breaks.
Speaking on the fundraising, Co-founder & CEO of Jet HR, Marco Ogliengo, said:
It is clear that we are on the right track: not only hundreds of satisfied clients and illustrious Italian investors, but we now have the trust of an international fund like Picus Capital. Picus knows our industry well, having invested in several payroll and HR companies that have since become ‘unicorns.’ They see our potential, and we are happy to work together and learn from them. The future of our country must have a strong economy. Our contribution, supported by our investors, will be to free businesses from unnecessary bureaucracy so they can accelerate.
In just 12 months of operation, the organization has over 300 clients, including traditional SMEs, startups, multinational corporations, and even publicly traded firms such as HelloFresh and Octopus Energy.
Robin Godenrath, Founding Partner & Managing Director of Picus Capital, added:
We’re thrilled to back Marco, Francesco, and the JetHR team on their quest to revolutionize the Italian payroll landscape. Italy’s complex payroll regulations, established consultant networks, and antique customer interaction provide the ideal basis for JetHR’s innovative and digital approach. We are particularly impressed by the speed of product iteration and the exceptional commercial traction demonstrated by the team early on. Given the reliance on service-heavy solutions, we see exceptional potential for AI-powered automation to transform the Italian €4 billion payroll market. We are excited to continue supporting JetHR as they pioneer the future of AI-driven payroll solutions.
Jet HR plans to use this capital to develop its employees, which now number 70, with the majority of them working in R&D. Upcoming additions include contractor management, which allows companies to swiftly pay contractors alongside employees while also having a comprehensive image of the overall workforce and associated costs.
