TribeHR Secures $2.5 Million Financing Round Led by Relay Ventures

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.

Relay Ventures
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... more

Matrix Partners
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... more

Waterloo, Ontario, Canada

NetSuite is the world's leading provider of cloud-based business management software. NetSuite helps companies manage core business processes with a single, fully integrated system covering ERP/financials, CRM, ecommerce, inventory and more. Being one of the technology leaders in the KW area, we know great talent is not just hard to find, but it takes a lot to keep great people. Our team loves... more

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