Sprout Solutions, an HRTech company aiming to deliver the best-automated human resources and payroll solutions for the Philippines, has raised $10.7 million in its Series B round led by Cercano Management, with participation from GSR Ventures, AFG Partners, Integra Partners, and Mynavi Corporation, according to a report.
Founded in 2015 by Patrick Gentry and Alexandria Gentry, Sprout offers software solutions to automate HR processes such as payroll management, employee benefits administration, time and attendance tracking, and performance management. The company aims to transform how HR works in emerging markets. The startup empowers Philippine businesses by preparing them for the future of work by championing a growth mindset through its innovative and holistic cloud-based people platform. It’s comprehensive product suite allows for seamless HR processing of the employee lifecycle and leveraging of enterprise data through invaluable analytics that aids in decision-making.
Sprout Solutions builds a community that fosters ”Radical Candor”. The platform follows the management philosophy that is rooted in caring personally while challenging directly. The startup believes that successful and meaningful collaboration empowers others to share and receive feedback and guidance.
Last September, the firm acquired the process automation platform Linnia for an undisclosed amount. The acquisition has helped Sprout in automating repetitive HR and procurement tasks.
In 2019, Sprout Solutions had raised $6 million as a part of its Series A funding round led by New York-based Point72 Ventures, the early-stage VC firm of American billionaire Steve Cohen. To date, the company has raised $18.4 million.