Neocase Software announced a USD $6.6 Million round of venture funding that it plans to use to fund a move downmarket from large enterprise to the middle market, further expansion in Europe, and R&D.
Neocase is known for supporting larger enterprises with technology focused on HR case management. HR case management software empowers HR teams to provide a better service and employee experience to teams while centralizing HR with streamlined, more cost-efficient processes. Neocase has built automation and vertical market-specific capabilities into its platform and differentiates itself in that way.
The curious thing about this announcement is the direction to go downmarket. Centralized HR processes are more prevalent in the large enterprise market segment, some deploying large HR services centers for the care of the workforce. Middle-market employers tend to have more decentralized processes and resources that are localized. The Neocase announcement doesn’t specify the size of organizations that it considers the middle market.