- Better HR raises bridge funding from Blibros and Satori Giants.
- The company plans to expand its cloud-based HR solutions across Southeast Asia.
- Better HR has grown its client base despite challenges.
Better HR, a Myanmar-based human resources tech startup, has recently raised an undisclosed amount of bridge funding from Swedish family office Blibros and Satori Giants.
The company offers a cloud-based enterprise solution designed to streamline HR processes for small and medium-sized companies, including features such as attendance tracking, leave management, overtime monitoring, and payroll handling.
Jumping hurdles and scoring goals
The company has faced its share of challenges, including the temporary closure of its Yangon office due to civil unrest in Myanmar.
However, Better HR has shown remarkable resilience, witnessing a significant increase in its active client base from 78 to over 380 following the office’s reopening in March 2022.
This growth was further bolstered by the establishment of new offices in Colombo, Sri Lanka, and Phnom Penh, Cambodia.
The newly acquired funding will be instrumental in Better HR’s plans to expand its operations across Southeast Asia. Currently, the company’s tailored payroll services are available in Singapore, Vietnam, Cambodia, Sri Lanka, and Myanmar.
To further its reach and impact throughout the region, Better HR intends to utilize the fresh capital to open additional offices in other key Southeast Asian markets.
A star-studded support system
Better HR, originally a spin-off of Myanmar-based digital agency Nexlabs, has a history of attracting investor interest.
The company secured previous funding from Seed Myanmar Ventures in 2019 and raised a separate bridge round in 2022 from Seed Myanmar Ventures, Blibros, and Nexlabs.
This latest injection of capital from Blibros and Satori Giants is a testament to Better HR’s innovative approach to HR management and its potential for growth in the region.
To read the original article: https://www.techinasia.com/myanmar-hr-tech-startup-raises-bridge-round-to-fuel-sea-expansion
