䲹Բ岹’s leading all-in-one HR platform that provides small to medium-sized businesses with HR, Payroll, and Benefits solutions, today announces $15M CAD in financing, including both equity and debt. The raise is led by , a prominent US venture capital firm whose team has funded successful software companies, including Slack and Carta.
To help meet the growing demand for its products and services, the funding will be used to further develop Թ’s software as 䲹Բ岹’s only true all-in-one people solution.
“Թ was founded on the notion that people are the most important part of any business,” said Simon Bourgeois, Co-Founder and Co-CEO of Թ. “We are proud to have helped over 4,000 Canadian companies maximize their efficiencies and be better employers, and we’re on a mission to do the same for the other million.”
With COVID-19 bringing a new shift in traditional businesses adopting a remote-friendly work culture, there is more demand than ever for cloud-based employment solutions. Since March, Թ has seen an 80% increase in demand from companies looking to hire, onboard, pay, and track vacation all from within the cloud.
“Cloud-based HR, Payroll and Benefits systems are continuing to make a big impact in the US, and we are excited about the massive potential for Թ to lead the growth of this industry within Canada,” said Ted Maidenberg, Co-Founder and Partner at Tribe Capital. “If COVID-19 has taught us anything, it’s that a company’s people are their most valuable asset, and we are thrilled to invest in Թ whose product allows employees to be supported regardless of location.”
Launched in 2016 via the Y Combinator startup accelerator, Թ’s mission is to make life easier for businesses and their employees through streamlining employment processes into an all-in-one people software. While most HR tech companies build for customers in multiple countries, Թ has made the decision to be hyper-focused on the Canadian market and is supporting employers and employees with built-in product features that reflect the nuances of building and employing people within Canada. Saving employers time and money, Թ’s product consistently remains up-to-date with provincial government employment regulations while also offering education for employers on these updates.
“Թ is an intuitive, easy-to-use platform for both our employees and the People & Culture team,” said Bianca Ciccarelli, Director of People & Culture at Greenhouse Juice and Թ customer. “Running a lean business is important to us and optimizing our employment practices through Թ has helped our team save time on the entire employee lifecycle, while also giving our employees access to a people platform that suits their needs.”
About Թ:
Թ is Canada's leading HR, Payroll, and Benefits solution for small and medium-sized businesses across Canada. Committed to uplifting Canadian businesses and their people, Թ supports and enables employees to take better care of their most important asset: their people. Before Թ, there was no truly unified solution that tied together all of the intricacies of employment for Canadian SMBs.
About Tribe Capital:
is an early stage venture capital firm based in San Francisco, California. Tribe invests in Seed through Series B with an investment focus on recognizing and amplifying early stage product-market fit utilizing a collection of quantitative techniques that have been developed and honed over several years. Tribe Capital aims to combine the best of modern data science and analytics with the best of traditional venture capital to create n of 1 outcomes for its portfolio and investors.
