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HR software maker TribeHR raises $1M seed round

The company gets support from Matrix Partners

Financial trends and news by Faith Merino
July 27, 2011 | Comments
Short URL: http://vator.tv/n/1d2b

TribeHR, a startup that develops human resources software for SMBs, announced Wednesday that it has closed a $1 million round of seed funding from Matrix Partners.

Founded in 2009, the Waterloo, Ontario-based company has created a SaaS-based platform that automates the typical day-to-day HR functions of any small-to-medium-sized business, including sick time, vacation time, employee reviews, and more.  For example, if an employee requests vacation time, the TribeHR software automatically tracks how many vacation days that employee has available and allows the HR department to put in the request for that person or deny/cancel the request instantly.  If the time off is granted, the employee’s vacation time is automatically added to the company’s calendar, which allows the HR department to track multiple employee vacation times.

Other features include updates on new employees, options to start employee reviews, manage job applicants and accept/reject applications, track company and employee goals, share files and reports, see which employees have read certain reports, and more.

“TribeHR has developed a really elegant, modern solution for HR in small and medium business,” said David Skok, partner at Matrix Partners. “Unlike HR solutions designed for enterprise customers, its social features help reinforce the culture of an individual company and optimize the performance of each employee. This platform is exactly what the Facebook generation expects to find in today’s workplace.”  Skok will be joining the company as an advisor.

The company offers a free 15-day trial to all new users, after which customers can pay on a month-to-month basis.  Prices range from $19 a month for businesses with less than 15 employees, to $399 for any number of employees.

TribeHR plans to use the new funds to fuel product development and expand sales and marketing efforts. 

 


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