In a time when employers are striving to attract and retain talent, money has been rolling into HR tech like never before. While London-based SaaS employment platform Omnipresent raised $120 million this week, Chemnitz-based Staffbase became a unicorn last week as it nabbed $115 million at $1.1 billion valuation to drive employee communication.
Entering the HR tech scenario with a bang now is Paris-based Lucca, which has raised €65 million funding, after being bootstrapped for a good long 20 years. The capital comes from its first institutional investor One Peak and will be used to build its product portfolio further and expand internationally in Spain and Switzerland.
The company plans to reach revenues in excess of €100 million by 2025. The HR software provider for SMBs currently has more than 5,000 customers and over one million end users.
Founded in 2002, the startup’s solutions address the main administrative and HR management issues: time and activity management, expense reports, personnel administration, annual reviews, as well as measuring well-being at work.
Proceeds will be used to accelerate product innovation, with a focus on spend management, training and workforce planning. The platform also wants to hire more than 400 employees over the next 3 years.
Gilles Satgé, founder and CEO, Lucca, said: “Our international competitors have raised large funding rounds. I want Lucca not only to keep up with them, but to be ahead. Our first institutional investor One Peak shares our strategic vision and backs the team of people who have created Lucca from a startup to a market leading provider of HR software solutions for SMBs.”
Humbert de Liedekerke, managing partner, One Peak, said: “The HR software market opportunity is enormous in Europe, and Lucca is incredibly well positioned to capitalise on it.”