2023-09-05 15:12:00
This is the 4th fundraising for HR tech Montpellier PeopleSpheres, HR platform for companies with 500 to 20,000 employees to manage all HR SaaS software from a single interface. After raising 3.5 million euros last June from its historical investors – Omnes, Irdi Capital, UL Invest and Swen Capital Partners – plus Sofilaro, the company opted for a crowdfunding campaign (on the Tudigo platform) to raise an additional 500,000 euros.
Launched publicly on July 31 and running until the end of September, the crowdfunding operation is therefore part of an overall fundraising of 4 to 4.5 million euros. To date, the objective of 500,000 euros has been reached (with 153 investors) and if the Tudigo platform indicates the sum of 4,050,924 euros, it means that it includes the 3.5 million euros from historical investors.
105 employees
« The objective of the fundraising of 3.5 million euros is to achieve financial equilibrium, specifies Philippe Blocet. In a normal cycle, we would have made a series B, but today we have a profitability objective that we want to achieve without compromising growth, and maintaining a high level of investment in R&D. Over the coming year, we will invest more than 35% of turnover in R&D… Our objective is to deploy artificial intelligence in HR management and accelerate the expansion of PeopleSpheres in the HR tech market. »
Thanks to this new fundraising campaign, RH Tech aims to strengthen its teams, which currently has 105 employees (60% in Montpellier, 70% next year, and the others in Paris) to continue its development: “ We are recruiting in the technical field, R&D, or even salespeople, i.e. seven to eight people by October,” announces Philippe Blocet.
As for the deployment of an artificial intelligence in its chatbot, it will aim to ” to automate part of the tasks of the HR teams and to improve the user experience thanks to the connectivity between the various HR tools “, allowing employees in particular to follow their objectives in real time or the balance of their leave.
An expected growth of 35 to 40%
In the spring of 2021, PeopleSpheres had raised 8.5 million euros to strengthen its sales forces, boost its international development, and to finance an R&D program around AI, after having raised 1.2 million euros, for the start-up of the company, and 2.3 million euros for the technological development of the platform.
Today, RH tech announces more than 300 clients, mainly in France (among which the Provalliance Group, the Vitamine T Group or Alpine Renault), ” and two large American clients, employing between 5,000 and 10,000 employees, with whom we have just signed”, adds Philippe Blocet.
The turnover closed on August 31 was 10 million euros (compared to 5 million euros in 2021). If the leader does not venture to give a forecast for 2023, he specifies that the company will spend ” from 50% growth to 35 to 40% growth”.
“We no longer recruit like three years ago”
According to the leader, the context of difficulties for companies to recruit is echoed in the activity of PeopleSpheres: ” We do indeed see some clients who are changing their recruitment tools because we no longer recruit today as they did three years ago: they are looking for more agile tools with more collaborative processes, for example, or tools to help the generation of job offers by working more on the employer brand”.
“PeopleSpheres responds to a need for simplification and flexibility of companies, because today, there are a multitude of HR tools that are not necessarily compatible with each otherexplains Philippe Bloquet, who created the company in 2015. Our platform makes them interoperable and allows them to be orchestrated by offering data connectivity and usage coordination. In July, we released a new technological framework for data exchange and connectivity, and we integrated new bots. »
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