Envy Capital invests US$5M in HR management HReasily, becoming investor after using its service
HReasily, a Singapore-based SaaS-enabled human resources firm, announced that it has received US$5 million funding from one of its longest client, Envy Capital.
The funding, HReasily said, will be to accelerate development, especially for its features to benefit its users.
Envy Capital, which is a part of Envy Asset Management, said that it has been using HReasily services in 2015 when its company was still a team of three. Envy Capital’s leader coined the positive improvement that the company has experienced, which is to grow into a team of 18 today, as the result of HReasily’s solutions on workplace culture.
“HReasily has digitised a lot of our functions with a suite of HR management services. The system allows us to add on modules only when we need them. Looking at it in the long term, there are different solutions we can utilise as our business needs grow,” said Rhiya Lee, Envy’s deputy managing director.
HReasily provides a human-resource technology aimed for small to medium enterprises.
Pascal Henry, HReasily’s CEO and co-founder, said, “We’re delighted that our end-user sees us not just as a digital solution, but as a business partner.”
HReasily’s tools digitalise and automate HR processes such as implementation and employee onboarding. It also offers a capacity for personalisation, and constant additions of new modules.
Its suite covers core functions such as payroll, expense claims, time and attendance, and leave management.
Currently, the company said it has 30,000 companies on its platform, with active users in eight countries: Singapore, Malaysia, Thailand, Hong Kong, Indonesia, the Philippines, Cambodia, and Vietnam.
This year, HReasily added an insurance component to its Staff Benefits pilot module, as well as white-label solutions. The company plans to roll out Scheduling and Employee Benefits next, with Performance Appraisal, Reporting, Onboarding and Scheduling in the pipeline for 2020.
In April 2018, HReasily raises seed funding co-led by Mazars Group (a global audit, accounting and consulting group) and New Zealand-based VC firm Zino Ventures.