A cloud-based HR tech start-up Better Technologies (“Better HR”) has raised a six-digit bridge round from new investors as well as existing investors such as Seed Myanmar Ventures, Blibros, and nexlabs.
Better HR is a cloud-based enterprise web and mobile apps enabling organizations to streamline HR processes, such as attendance, leave, overtime and payroll, for small and medium-sized companies.
More than 200 companies across Myanmar, Sri Lanka and Vietnam have adopted Better HR to manage over 35,000 employees and process over $2m salaries per month. During the global pandemic, Better HR’s customer base had quadrupled.
The funds will be used to further fuel the expansion in other target markets across ASEAN and South Asia regions. The investment came after showing strong proof of product-market-fit, strong traction amid the global pandemic, and the team’s ability to adapt to changing market conditions in the core market –Myanmar.
“We are very happy to see that our product was essential in helping organizations to adapt to work-from-home conditions during COVID. 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 who has passed on a day-to-day
operations and growth responsibilities to Myo Zaw Hein, CEO of Better HR.
In 2019, Better HR raised a six-digit seed round funded by Seed Myanmar Ventures.