Berlin-based startup Kenjo has raised €5.1 million in seed funding to expand its HR and employee engagement platform. The round was led by Redalpine, one of the early investors in N26 and tax-reimbursement platform Taxfix. Other investors include Julian Teicke, CEO and founder of wefox, the insurtech which recently became a unicorn, and Maximilian Thayenthal, founder of N26.
“The majority of HR software providers are only rebuilding old systems with new technologies, reinforcing traditional practices. That’s no longer viable to manage an emerging, and radically different, workforce,” says David Padilla, the CEO and founder of Kenjo.
So his Berlin team has built an employee engagement platform with a focus on personal and professional development, which he says are more important to today’s workforce than status and salary. Performance reviews, goals and KPIs are visible to direct reports and managers alike.
The platform also lets employee’s handle typical HR tasks, such as updating their personal information, holidays, maternity leave and sick leave. Other staff can manage recruiting, payroll, and other processes in the app as well.
As for what’s next, the investment will go to product development and market expansion in Germany, as well as preparations to expand into Austria, Switzerland and Spain in 2021. Kenjo added that it aims to deliver a five-fold return on their investment in product and technology.
Photo: CEO and co-founder David Padilla