The Malaysian human resource (HR) technology startup BrioHR said on Wednesday that it has raised S$8.7 million ($6.5 million) in Series A funding, which will help it further transform how companies in Southeast Asia handle HR procedures.
Taiwania Hive Ventures and several other regional investors joined the round, which was led by Openspace Ventures, one of the top investors in Singapore’s tech sector, the company said in a statement.
According to BrioHR, this funding is a sign of the increasing confidence, and the company is well-positioned to meet the digital HR requirements of Singaporean and regional businesses as well as small and medium-sized businesses (SMEs).
Using technology, BrioHR is a one-stop platform that helps more than 1,000 businesses in Malaysia, Indonesia, Singapore, and the larger ASEAN area with payroll, compliance, and employee engagement.
After this funding is closed, the company’s first priority will be to further integrate artificial intelligence (AI) capabilities and develop a strategy for expanding its operations and brand presence in Singapore. This is more important than ever in order to support businesses in Singapore that are dealing with the rapid changes brought about by a shifting workforce.
“This investment validates our vision of making HR seamless and accessible to every business in ASEAN,” said Benjamin Croc, Chief Executive Officer and Co-founder of BrioHR.
“Being a global tech and innovation hub, Singapore is an important market for us,
“The government’s push for digital transformation, AI adoption and smart workforce solutions through the Singapore Economy 2030 Vision perfectly aligns with BrioHR’s aim of equipping businesses with leading HR technology,” he added.
He went on to say that the funding is perfectly timed for Singapore’s tech sector, which continues to draw in foreign investments and support domestic startups.
“Singapore is the number-one destination for tech startups in Southeast Asia, because of its progressive infrastructure, pro-business policies and rich talent availability,” he noted.
He continued by saying that the company will use this funding to fortify its position in Singapore, taking advantage of the country’s robust digital economy and its goal of developing AI-powered business-enabling solutions.
“This raise isn’t just helping us to scale—it’s helping to shape the future for work in ASEAN,
“And with Singapore as our launchpad where the Government is pioneering policies, and the startup ecosystem is booming, we are excited about our next stage of innovation,” he said.
