PeopleForce, a startup developing an HRM system for small and medium-sized businesses, has raised $700,000 from Sturgeon Capital and other investors. The company will use the money to develop new features, grow the team, expand into new markets, and increase brand awareness.
About PeopleForce
PeopleForce offers HRM solutions for HR and recruiting processes automation: onboarding, hiring, time tracking, performance management, employee engagement assessment, and other tasks. The system also provides integration with productivity tools like Google, Slack, Zoom, and Teams.
PeopleForce has a global footprint across 14 countries managing over 60,000 employees. Among them are such brands as Rakuten, BMW, Ajax Systems, Parimatch, ARX, SeRanking, SkyUp, and Reply.io.
“Over the past few years, we have witnessed PeopleForce becoming the leading solution for HRM software across the CIS region. The company holds a strong USP and company values in customer obsession and innovation that helps us expand into new markets. We are continuously bringing new updates and enhanced features, whilst ensuring the highest level of customer support. This investment will bring us closer to our goals and help us expand into other markets,” said CEO and founder Andrew Cetinic.
The company has representative offices in the United Kingdom and Estonia, but most of its employees are in Ukraine. According to LinkedIn, PeopleForce employs 24 people, 18 of whom are Ukrainians.
“We believe that Peopleforce has the team, product, and local expertise to be the leading HRM solution in both the CIS region and other frontier markets. Today there are limited solutions that offer local language and integration support, while more and more companies understand the importance of digitalizing their business processes, and so there is a significant opportunity for Peopleforce to capture,” said Kiyan Zandiyeh, Sturgeon CEO.
Sturgeon Capital is a leading frontier markets investment boutique with headquarter in London. Sturgeon focuses on technology-enabled businesses that offer products and services that solve an acute pain point for a large untapped potential market.
