Better HR, a cloud-based HR technology firm, has secured a six-figure USD bridge round from new and current investors including Seed Myanmar Ventures, Blibros, and nexlabs.
The money will be utilised to expand into additional ASEAN and South Asian target areas.
Nexlabs, a Myanmar-based digital studio, came up with the idea for Better HR. In 2019, it established a new company, Better Technologies, with Seed Myanmar Ventures as an angel investor to drive the idea to market.
Better HR, which was founded in September 2019, delivers cloud-based business web and mobile tools that help SMEs optimise HR procedures like attendance, leave, overtime, and payroll.
More than 200 enterprises in Myanmar, Sri Lanka, and Vietnam use the company’s solutions to manage over 35,000 employees and process over US$2 million in pay every month, according to the company.
“Our clients are using Better HR to keep up with employee communications and HR processes going despite having to work remotely. That gave us the confidence to move forward and raise another round to accelerate the growth,” said Ye Myat Min, chairman of Better HR.
Better HR received a six-figure seed investment from Seed Myanmar Ventures in 2019.
