Irish HR-tech platform raises €2m after rapid growth in revenue

12 Jan 2023

HRLocker CEO Adam Coleman. Image: HRLocker

Based in Lahinch since 2013, HRLocker has grown its revenue by 139pc over the last 12 months because of increasing demand for flexible HR management systems.

HRLocker, a Clare-based HR-tech company, has announced the close of a €2m funding round to expand its business beyond Ireland and the UK.

Founded in 2013 by Adam Coleman, the company has developed a HR management platform targeted at SMEs with 25 to 500 employees. HRLocker manages the entire employee lifecycle with features such as employee database, time management, performance management and HR and payroll reporting.

Based in Lahinch, the company’s revenue has seen a 139pc revenue growth in the 12 months prior to the funding round. This is because of increased demand for HR management platforms that make flexible working easy as more and more businesses go remote or hybrid.

“When it comes to digital transformation, HR is playing catch up with other business functions, such as finance and marketing,” said Hugh O’Donnell, whose investment firm MACX3 led the latest funding round along with other private investors.

“Since the massive shift to remote working in 2020, demand for effective, user-friendly employee management software solutions has exploded. I firmly believe HRLocker has the team and the technology to be a global leader in this space.”

The company announced plans to double its employee base in early 2021 to meet growing demand for its business during the pandemic. Today, HRLocker has 47 employees – most of whom work remotely from different parts of the world.

“Employees are an organisation’s most valuable asset. At HRLocker we’re hugely passionate about making the workplace work better for businesses and their people,” Coleman said of the latest funding round.

“We’re constantly improving the platform to ensure it meets the requirements of our customers, whether that’s visualising data for reports or enabling more seamless flexible working.”

HRLocker said it has around 45,000 daily users and more than 700 customers who use its HR management platform.

“With this investment, we will continue to innovate HR solutions and bring the power of HRLocker to more businesses and to a wider international market,” Coleman added.

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Vish Gain is a journalist with Silicon Republic