TribeHR Secures $2.5 Million Financing Round Led by Relay Ventures

Posted by Techvibes NewsDesk

TribeHR announced this morning that it has secured $2.5 million in financing led by Relay Ventures, with follow-on participation from Matrix Partners.

Matrix made a $1 million seed round investment in TribeHR one year ago.

The funds will be used to accelerate the development of new social and mobile products and go-to-market strategies for TribeHR’s cloud-based HR management platform.

Waterloo's TribeHR is the only solution that manages the entire employee lifecycle from recruitment and applicant tracking, to time off tracking and salary history, and performance management.

“TribeHR has been built from the ground-up with the goal of simplifying day-to-day HR admin so that businesses can focus on building the best teams and promoting the strongest workplace culture,” said Joseph Fung, TribeHR CEO. “This new round of funding will allow us to enhance our solutions by adding both social and mobile features which will lead to increased effectiveness of the HR manager.”

TribeHR was nominated in the First Annual Canadian Startup Awards for the Best Overall Startup of 2011 and in February TribeHR won Business of the Year honours at the Greater Kitchener Waterloo Chamber of Commerce’s Business Excellence Awards.

Company:
Relay Ventures
Website:
http://www.relayventures.com
Location:
Toronto, Ontario, Canada

Relay Ventures is an early stage venture capital firm that invests in passionate entrepreneurs disrupting and creating new markets through mobile technologies. Unlike other funds, Relay exclusively focuses on software for mobile devices and the connected Internet, creating an unparalleled set of networks and resources that tangibly help founders build world-class companies. With offices in Menlo Park and Toronto,... more

Company:
Matrix Partners
Website:
http://matrixpartners.com
Location:
Menlo Park, California, United States

We are very selective in the investments we make. We make few new investments per year and have a very high quality bar. We seek to invest only in outstanding individuals and companies we believe have the potential to become industry leaders. We aim to maintain life-long relationships with entrepreneurs. We aim to earn the trust of our entrepreneurs by working hard, being straightforward, and supporting them... more

Company:
TribeHR
Website:
http://www.tribehr.com
Location:
Kitchener-Waterloo, Ontario, Canada

Headquartered in Waterloo, ON and Boston, MA, TribeHR Corp. builds TribeHR, the first truly social human resources management software. Its easy-to-use tools are used by businesses worldwide, allowing companies to focus more on what they do best and less on things that get in the way. TribeHR was founded in 2009 and is funded by Matrix Partners and Relay Ventures. For more information, visit www.tribehr.com. more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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