Worky, an all-in-one HR and payroll software solution for Mexican companies, has secured a significant boost with a successful $6 million Series A round led by Atlántico, a Brazil-based fund, and with participation from ADP Ventures. This substantial capital injection will power the company’s mission to streamline HR and payroll processes for Mexican businesses, accelerating product development, expanding sales and marketing efforts, and bolstering the team. This strategic move is set to revolutionize the HR and payroll sector, bridging the gap between payroll management, data, and employee benefits.
Founded in 2018 by Maya Dadoo and Carlos Marina, Worky is on a mission to modernize how companies recruit, manage, and pay their employees, with a particular focus on the operative workforce sector. The platform is committed to serving Latin America, starting with Mexico, where approximately 60 per cent of the 20 million SME employees change jobs annually, significantly impacting the country’s labour and economic productivity.
In 2022, Worky released Worky Payroll, Mexico’s first cloud-native payroll solution and a robust shift management module. These innovations seamlessly integrate workforce operations and revenue variability processes like commissions and bonuses, enhancing compliance and efficiency through Worky’s real-time payroll system and providing clients with a reliable and efficient payroll experience.
Speaking about the company, Co-founder & CEO of Worky, Maya Dadoo, said:
Our market needs the solutions employers and employees need to operate HR and Payroll simultaneously and efficiently. Worky has built the infrastructure to create a reliable payroll experience while having a permanent relationship with the employee. We currently serve customers across the board experiencing the pain of managing large workforces. We are ready to scale to this market where megatrends like the future of work and increased labour and payroll regulations are hitting hard.
Since launching its payroll service, Worky has seen improved customer acquisition as businesses seek reliable payroll solutions amidst fears of hefty fines prevalent in the sector. The platform is now the most comprehensive HR and payroll administration platform for Mexican firms, integrating previously disparate systems. It reduces a company’s employee rotation by 30% in three months. Moreover, job permanence has increased by an average of 80%, leading to improved financial performance for companies.
Atlántico partner Ana Martins added:
Shaped by a robust regulatory tailwind, Mexico’s payroll and HR market is changing rapidly. Companies are seeking cheaper and better ways to run payroll while seamlessly increasing flexibility in their everyday workflows. Through years of product development, Worky has managed to build an unmatched solution in the market, positioning itself to become the leading HR hub in Mexico.
Worky is not just a promising startup, but a rapidly growing force in the HR and payroll sector. With over 40,000 users in Mexico, the firm is actively expanding its services to address the broader needs of the blue-collar industry, where the bulk of the Mexican workforce lies. This expansion is a testament to Worky’s success and its potential to revolutionize the HR and payroll sector.
