UK-based Humaans announced a $5 million Seed round of VC for its HRIS focused on companies in the middle market.
In the Humaans announcement they aim to be the fastest way to onboard and manage employees because:
It turns complex processes like employee onboarding, offboarding, and compensation management into simple workflows by integrating with other point solutions, such as Gsuite, Slack, Docusign, and Greenhouse.from the Humaans funding announcement
Humaans also sees the middle market as “underserved” for HR technology.
Existing players are split across two categories: those focusing on the long tail of smaller companies, and those addressing massive corporations’ needs. Those in the middle are left underserved. This is the opportunity we see. To build a platform that enables this massive segment of the market to scale their people operations in a way not possible today.from the Humaans funding announcement
It’s early days for Humaans, and based on the above they have a lot to learn. HRIS is one of the most mature HR technology categories and for solutions serving the middle market, loads of innovation and investment supporting it has poured into the market since about 2012. By 2016, the market was buzzing with innovation for the middle market. Here’s the 2019 HR Software Landscape for Middle-sized Businesses.
In 2020 there was $5 billion invested in HR technology globally, with $2.6 billion invested in the HCM category and looking even more narrowly, about $500 million invested in core HR/HRIS – most of it for the middle market.
As Humaans joins Y Combinator with this Seed round, I’m sure they’ll bump into the market they’re entering. It will be interesting to see how they end up serving it.
Source: Humaans raises $5M Seed round