Saudi HR Software Startup ZenHR Raises $10 Million in Growth Round
ZenHR, a Saudi-based HR software provider, has raised $10 million in its growth round of funding led by Rua Growth Fund.
ZenHR, a Saudi-based HR software provider, has raised $10 million in its growth round of funding led by Rua Growth Fund, alongside participation from regional and global investors such as Endeavor Catalyst.
Founded in 2017 by Yousef Shamoun and Mohamad Haj Hasan, ZenHR aims to facilitate and streamline the entire HR function from automating payroll calculations to onboarding and offboarding employees.
“Over the past few years, we've worked hard to build a winning team and culture at ZenHR,” Yousef Shamoun, Co-founder and CEO at ZenHR, tells StartupScene. “As we rapidly approach 1,000 customers and 100,000 users in MENA, this team has firmly established itself as a category leader in the cloud HR software space, achieving this with little to no funding. We are thrilled to partner with the team at Rua and are confident that this partnership will allow us to expand our regional footprint in all twelve markets we serve and strengthen our presence even further in Saudi Arabia, our main market.”
Through the platform, ZenHR is able to support companies in providing full compliance with labour laws, tax laws, social insurance, and payroll policies and regulations across the region. It is also able to provide automated payroll calculations, onboarding and offboarding employees, and performance management amongst other services.
According to the startup, this funding round follows the startup’s positive performance, achieving triple digit growth and witnessing around 3x growth in subscription revenue YoY since its inception. With 160 people under their employ, ZenHR services 12 countries in the MENA region including Saudi Arabia, UAE, Egypt, Qatar, Kuwait, Bahrain, Oman, Iraq, Jordan, Lebanon, Yemen, and Palestine.
The new round of funding will be used to enhance the platform and continue the startup’s expansion across the region.
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