Human Resources startups, also known as HRtechs, can apply until November 22nd for a new batch from Start Growth, a Venture Capital firm that supports founders by combining expertise, capital, and experience.
HRtechs are companies focused on the HR field that use technology to help automate and optimize processes such as recruitment and selection, performance management, training and development, benefits administration, payroll management, and analysis of employee-related data.
According to the “HRTech Report 2023” by Distrito, the sector has generated a total of US$1.9 billion in investments since 2000. The study reveals that, as of 2022, there were 518 startups linked to the human resources sector in Brazil.
According to Marilucia Silva Pertile , startup mentor and co-founder of Start Growth , the call for proposals is open to early-stage HRtech companies with a validated product and markets with a potential of R$1 billion or more. “We want to offer practical support to innovative and exceptional entrepreneurs. In the case of HRtech companies, we believe they have incredible potential to make HR departments more efficient, reducing costs and improving the experience for both employers and those seeking employment. It's an area that, originally, has many bottlenecks in the country, and HRtech companies can help,” she explains.
Marilucia explains that HRtechs gained momentum during the COVID-19 pandemic, when companies needed to adapt to working from home, online meetings, and other technology-related solutions. "They became increasingly necessary, offering a range of digital tools and solutions to improve internal activities, engage employees, and provide predictive analytics to assist in strategic HR decision-making, among other things," she contextualizes.
In this investment round focused on HRtechs, Start Growth plans to invest up to R$3 million in selected startups. Once registered, the Venture Capital firm will meet with the entrepreneurs to understand each business and assess which ones align with the expected investment thesis and are eligible for investment. Applications should be submitted through the website https://www.startgrowth.com.br
