Less known and less “trendy” than many nuggets of French Tech, HR Path boldly continues its merry way. Specialist in HR information systems for companies, the Parisian nugget announces this Wednesday, May 11 the success of a massive fundraising of 225 million euros, half in equity – notably via its main shareholder, the capital fund -risk Andera Partners which created for the occasion a co-investment fund-, and the other half in bank debt, in particular with Société Générale and BNP Paribas.
From 140 to 280 million euros in turnover in 5 years?
A member of the French Tech 120, the government’s index of the most promising startups in the tech ecosystem, HR Path is an “old” startup. Founded in 2001 by François Boulet and Cyril Courtin, it specializes in HR services for companies, offering them a wide range of tools to improve their performance.
Driven by the acceleration of the digital transformation of post-Covid companies, HR Path thus claims to be the main integrator in France of HR solutions from Cegid, Oracle, SAP, Workday, HR Access, Sage and Talentsoft. But the company has also developed its own software suite, PowerHR, which is a human resources management information system (HRIS in the jargon), marketed as an annual subscription. This makes it possible to address payroll, working time, training and talent management, including for the public sector, and offers a decision-making tool.
Thanks to its positioning as an HR platform, the young shoot claims to date around 1,500 customers, including most of the SBF 120, as well as ETIs, SMEs and public sector entities, for a turnover of 140 million euros. euros (compared to 95 million in 2019 and 60 million in 2017) achieved in France but also in 18 other countries on all continents. With the money from the fundraising, the company intends to double its turnover in the next five years, and to recruit a lot – 400 jobs per year – all over the world to support its internationalization. Including via acquisitions of competing nuggets in certain countries, in order to accelerate its establishment there.
Human resources facing major challenges
At the heart of the digital transformation of companies, the HR departments of companies must transform themselves to face the new challenges of employees, whether it is teleworking which has become essential since the Covid-19 crisis and the confinements, but also the war for talents that pushes companies to invest in “talent management”.
“Subjects around human capital are more than ever a priority “, estimates Cyril Courtin, the co-president of HR Path, citing “adapting to change, data security, attracting employees and engaging employees” as the main challenges of human resources. Hence a horizontal approach to HR issues, with, in addition to traditional tools such as payroll management, modules relating to the management of arrivals and departures, career management (salary progression) or training for employees. .
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The discreet HR Path, French champion of HR software, raises 225 million euros
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