Canada-based Humi announced a USD $11 Million Series A for its HR and payroll platform focused on Canadian small and medium-sized businesses (SMB). The COVID-19 pandemic has taken a financial toll on Canada, just as it has around the world, with tens of thousands of businesses predicted to close permanently. Most cloud-based HR software is priced with a per employee per month (PEPM) model, which has had an impact on HR/payroll software providers serving the SMB market. Along with all of the usual questions facing new HR and payroll providers, Humi faces a timing issue in light of its new funding. Will Canadian SMBs be investing in new HR software before an economic recovery, and will the USD $11 Million Series A last until the recovery starts?

 

Source: Canada’s Leading All-In-One HR Platform, Humi, Closes $15M Series A | Business Wire