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.