Toronto’s Humi has raised a $31 million Series B financing round led by Kensington Capital Partners for its all-in-one HR platform.
Serving companies nationwide, Humi supports and enables employers to take better care of their most important asset: their people. Before Humi, there was no truly unified solution that tied together all of the intricacies of employment for Canadian businesses.
The funding will be used to further advance Humi’s software and help meet the growing demand for Humi’s products and services. Specifically, Humi will enhance its mobile experience and other employee-centric software features, like scheduling and integrated health benefits.
“Since the beginning, Humi’s mission has been to make the lives of businesses and its employees easier,” said Simon Bourgeois, Co-Founder and CEO of Humi.
“The way Canadian employers and employees operate has changed drastically over the past two years, and without the right technology, this change is next to impossible for companies to keep up with. Humi is proud to support Canadian businesses through this continued workplace evolution and enable further adoption of an employee-first approach to driving success.”
Since Humi’s Series A of $15 million in 2019, the company has seen incredible growth both internally and externally, with five times the number of employees on the platform and Humi’s net promoter score (NPS) increasing by four times. Humi’s focus remains on its people and building solutions to address employee recruitment, growth, and retention challenges.
The pandemic has accelerated the evolution of Canada’s workplace. Unique workplace benefits have become table stakes, and typical workplace practices, like full in-office presence, have become a thing of the past. In order to keep up, businesses have had to adopt new technologies.
Humi’s intuitive, all-encompassing platform has supported Canadian employers through this unexpected, accelerated evolution. Most notably, Humi has added additional product offerings including a Marketplace of employee benefits, business insurance, and a broader set of tools to support digital recruiting and onboarding of new employees.
To continue its commitment to supporting businesses through this phase of growth, in 2021, Humi released its annual HR data report which revealed COVID-19’s continued impact on the workplace. The report highlighted the primary opportunities for companies to lead in the areas of compensation and benefits, equal pay, equity, diversity, and inclusion (EDI), and the complete employee experience.
Also participating in the Series B round was existing investors Tribe Capital and Struck Capital and new investors TELUS Ventures, Flex Capital, as well as Mike Dinsdale, former CFO of Gusto, and Rodney Dobson, former President of ADP Canada & UK.