HRLocker has announced it has closed its first £1.8M (€2m) funding round.
The round was led by Hugh O’Donnell’s investment firm, MACX3 Investments Limited, alongside a number of other successful entrepreneurs, family offices and private investors EIIS investors.
HRLocker has ambitious plans for the funds raised. They want to break ground in new international markets, expand their product offering, while continuing to grow their core customer base in Ireland and the UK.
HRLocker’s digital HRIS platform is designed for SMEs with 25 – 500 employees. It manages the entire employee lifecycle and prides itself on being the only HR software solution employers need, with GDPR-compliant features such as employee database, time management, performance management and HR and Payroll reporting. Demand for HR software solutions that automate processes, improve employee experience and meet the needs of remote and flexible working, has risen sharply since the Covid-19 Pandemic. HRLocker delivers a fully evolved employee lifecycle solution that meets and exceeds these demands.
Since HRLocker adapted its market offering to be a pure SaaS B2B product, the company has grown rapidly delivering 139% revenue growth in the 12 months prior to the funding round. Up to this funding round, the business was bootstrapped. Adam Coleman (Founder/CEO) and his team had focused on ensuring strong product market fit, developing a scalable and repeatable sales cycle, while ensuring highly attractive commercial unit economics for the business. Now with c.45,000 daily users and over 700 customers, HRLocker is scaling rapidly and efficiently.
HRLocker is a remote first company. Based in Lahinch, Co Clare, most of its 47 employees are fully distributed across the globe. HRLocker has a unique value based culture that prides itself on being highly flexible and growth orientated.
Adam Coleman, CEO at HRLocker, comments, “Employees are an organisation’s most valuable asset. At HRLocker we’re hugely passionate about making the workplace work better for businesses and their people. We’re constantly improving the platform to ensure it meets the requirements of our customers, whether that’s visualising data for reports or enabling more seamless flexible working. With this investment, we will continue to innovate HR solutions and bring the power of HRLocker to more businesses and to a wider international market.”
Hugh O’Donnell, “When it comes to digital transformation, HR is playing catch up with other business functions, such as finance and marketing. Since the massive shift to remote working in 2020, demand for effective, user-friendly employee management software solutions has exploded. As the first HR information system for growing companies, I firmly believe HRLocker has the team and the technology to be a global leader in this space.”