Cloud-tech HR venture ZingHR has raised $10 Million from Tata Capital Funds.
“We are thrilled to announce that we have bagged $10 million funding from Tata Capital Funds. At the same time, we are glad to partner with them in our journey to redefine organisational outcomes through the use of cutting-edge technology. We have clocked phenomenal growth in the past few months, and this funding will further bolster our efforts to expand our footprints across the globe,” said Prasad Rajappan, Founder& CEO, ZingHR.
ZingHR was also recently featured among Asia’s Top Ten Human Capital Management Suites in the Gartner study.
"We believe the adoption of SaaS-based processes will decide future winners as businesses go digital. ZingHR's SaaS solution is robust, nimble and adopted by marquee customers," said Akhil Awasthi, managing partner – Tata Capital Growth Fund.
The development comes as ZingHR looks to scale its presence globally. The company is already present in Australia, Southeast Asia and the Middle East and is now looking to expand to Europe, more countries in the Middle East, North Africa and the US.
Speaking on the expansion plan, Prasad shared ZingHR would be focusing on Australia, Malaysia, Indonesia, Singapore, and the Philippines.
"The HR tech market is expanding gigantically, especially after the advent of COVID-19 and the hybrid workforce coming into active play. The new business models will likely see HR teams adopting newer ways to engage and respond to the workforces. Steep traction of HR tech software will be witnessed with AI, cyber-security, cloud systems, employee wellness being the limelight with tangible outcomes to measures productivity at the enterprise level globally," Prasad shared with People Matters.
As companies increase their strategic investment in HR tech, ZingHR focuses on augmenting emerging technology and expanding human capital to lead various geographies. "Irrespective of the episodic disruptions we are set to revolutionize the HR vertical for every industry/vertical irrespective in the coming times," added Prasad.