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South Korean HR automation platform flex raises $32M Series B at a $287M valuation – TechCrunch

Korea-based human sources administration platform flex Introduced immediately is the top of the $ 32 million Series B spherical with a $ 298 million valuation. The newest funding raised to a complete of $ 42 million is GreenoaksWith participation from DST Global Partner..

The mission of a startup is to allow firms to automate and streamline the guide human useful resource growth course of and deal with extra folks. Its automation instruments optimize the worker expertise and guarantee seamless knowledge circulate throughout teams to be used in payroll, digital signature help, on / offboarding, and human analytics. We additionally plan to launch efficiency analysis and expertise administration instruments within the first quarter of 2022.

“At Flex, we outline HR as relationships, not expertise. Flex CEO Haenam Chang believes that the HR group deserves world-class software program to handle and repair its workers. It’s clear that many organizations nonetheless use spreadsheets and legacy merchandise to realize their objectives immediately.

Two-year-old startups use income to broaden their operations to satisfy demand, advance HR automation and SaaS merchandise, and improve workers.

Series B funding is pushed by many product launches and new prospects, backed by almost 10x income progress in comparison with final 12 months. Startups have primarily served SMBs within the IT sector. Nevertheless, Flex plans to focus on new industries in SMB area this 12 months to broaden its attain. When requested, it didn’t disclose any person or buyer numbers.

In the present day, flex is specializing in progress in South Korea by offering SaaS options that modernize HR options and processes which have taken a very long time to adapt to technological advances during the last 20 years. The corporate mentioned it has a deep understanding of the cultural nuances of HR administration and home HR laws, which supplies it the pliability to supply a vary of merchandise tailor-made to Korean firms.

“Some firms have adopted options to trace and enhance how they handle their workers, however most firms have instincts or insufficient knowledge to make advert hoc choices about their workers. At Flex, we offer our prospects with a dependable supply of worker knowledge and a wealthy toolset to handle their workers to maximise private and organizational efficiency. Isn’t nearly offering nice HR software program options, it’s about serving to firms higher monitor and handle their most essential asset, their workers, ”Chang mentioned.

“Korea is likely one of the largest and most dynamic economies on the earth, however traditionally there’s a lack of native options for firms to handle and pay for his or her workers, and firms are pissed off and develop their very own options. We have to, “mentioned Josh Cho of Greenoaks. “At the moment, Flex is quickly constructing Japan’s first next-generation personnel data system and payroll platform. Finish-to-one that allows firms to deal with all HR features from efficiency administration to recruitment and payroll in a single place. I’m enthusiastic about their imaginative and prescient for Finish’s merchandise. ”

South Korean HR automation platform flex raises $32M Series B at a $287M valuation – TechCrunch Source link South Korean HR automation platform flex raises $32M Series B at a $287M valuation – TechCrunch

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