SeamlessHR, a Nigerian company providing cloud-based human resources and payroll software, has successfully raised $10 million in Series A funding. The round was led by Pan-African venture capital firm TLcom Capital, with contributions from new investor Capria Ventures and existing backers such as Lateral Frontier Ventures, Enza Capital, and Ingressive Capital.The company aims to leverage this funding to accelerate its regional expansion and enhance its product offerings.
SeamlessHR’s cloud platform helps businesses streamline their HR processes, offering a range of tools, including HR management, performance tracking, payroll management, and recruitment systems.
SeamlessHR was founded in 2018 by Emmanuel Okeleji and Deji Lana, who previously operated Insidify, a job aggregation platform. Transitioning to HR solutions, they identified a need to empower HR departments across Africa with more efficient and scalable technology. The move proved successful, with the company seeing a tenfold increase in revenue after launching its Minimum Viable Product (MVP).
Initially focusing on small businesses, SeamlessHR quickly attracted larger corporate clients, including banks and multinational companies like PwC and AXA. With over 100,000 employees using the platform monthly, SeamlessHR is now considered a leading player in the African HR tech market.
As the company expands its client base, SeamlessHR plans to introduce embedded finance features, offering employees early access to earned wages, a service akin to earned wage access programs seen in developed countries. This innovation is aimed at addressing the lack of accessible credit options for employees in Africa.
Despite the rise of competition from companies like Workpay and Bento, SeamlessHR continues to dominate the market, offering a localized and cost-effective alternative to legacy systems like SAP and Oracle. The company’s ability to replace traditional on-premise systems has been a significant factor in its success.
SeamlessHR’s new funding will enable further expansion into South Africa and neighboring East African markets. The company also plans to enhance its platform’s AI, data analytics, and machine learning capabilities, moving beyond HR into other operational areas in the future. Okeleji envisions SeamlessHR eventually growing into a global SaaS company, much like India’s Freshworks.
With its focus on solving Africa’s unique HR challenges, SeamlessHR is poised to redefine the cloud-based HR software landscape across the continent.
