Hailey HR, a Swedish HR platform that streamlines and automates HR processes, has secured €1.7 million for increased growth and expansion. Earlier this year, the company raised €2.6 million from existing investors, including Stefan Krook and Karl-Johan Persson through their joint investment company 41an Invest. The additional €1.7 million comes in the form of a loan through ArK Kapital and will be used to increase growth and the pace of international establishment, focusing on Denmark, Norway, Finland, Germany, the United Kingdom, and Poland.
After launching the first version of the product in 2021, Hailey HR already turned over €0.6 million in 2022. Today, the company has 320 paying customers while continuing to see strong growth. It is expected to end the year with over €3 million in ARR (Annual Recurring Revenue).
“We continue to see a growing demand for our platform and constantly hear about more companies looking for a comprehensive service for all their HR needs,” said Henrik Jakobsson, CEO of Hailey HR. “Through Ark Kapital, we can now also finance our expansion and increase our growth without having to give up any shares in the company.”
Historically, the credit market has been closed to investing in early-stage tech companies because banks have not been able to risk-assess companies with not yet profitable growth. With ArK’s unique, data-driven approach, it is now possible to bridge the gap between the credit market and the startup community – which opens the way for more companies to secure access to financing from a considerably larger capital pool compared to venture capital alone.
“Hailey HR has created a platform with high demand and has shown a good ability to deliver on its own plans,” commented Axel Bruzelius, co-founder and COO of Ark Kapital. “The company has demonstrated robust, sustained, and predictable growth – which we have been able to see via our platform AIM – and we are pleased to be able to help finance the company’s next chapter now as Hailey HR enters more markets in Europe.”
Founded in 2020, Hailey HR has identified and created in a short time a comprehensive platform that gathers the functionality of a range of HR tools under one umbrella. The platform helps companies simplify the entire employee journey – from signing employment contracts and onboarding new employees, to vacation and absence, salary review, and employee surveys.
Read the orginal article: https://www.eu-startups.com/2023/10/stockholm-based-hailey-hr-secures-an-additional-e1-7-million-to-simplify-the-entire-employee-journey/
