Natural HR Software Startup Received Early Stage Investment from Midven
Human Resource software may be one of the least attention in software startups. A Birmingham-based Natural HR has just secured a new capital from Midven to further develop its cloud based HR software.
Natural HR is a company founded to deliver human resource development software for companies that aim to manage their daily HR needs in simple and efficient way. Developed by a husband and wife team Jason and Sarah Dowzell with such a unique background Jason is an IT specialist and Sarah is an HR practitioner.
The software was started in 2010 when their company desperately needed a software to manage its remote employees. Those remote employees were required to submit timesheets every week, so they need a small solution for allowing the weekly task to be done smoothly. After a long search and unable to find the most suitable one, the company, which based in Birmingham, decided to develop the software in-house.
Upon development of its HR software , the company found out that there was a gap in the marketplace on HR software. So, the company decided to offer its software, called Natural HR was offered to fill in the gap. As expected, Natural HR is able to fill in the needs of HR software which is in short supply.
On Wednesday, Natural HR receives a £100,000 ($140.000) early stage investment from Midven, a Birmingham-based venture capital fund. "When I first came across Natural HR, I was impressed that such an early stage company had already managed to build a comprehensive piece of HR software and also had a significant user base," Midven Investment Director Gio Finocchio told Birmingham Post.
"Over the period of time that we and the co-investors tracked the company and conducted our due diligence, the company continued to grow its customer base in spite of operating in a competitive sector," he added.
Although there are many demands, but HR software is not easily available and suit the company needs. Especially, in 2016, as Mashable reported, there are five new laws regarding HR management put into effect. One of the most important is the Affordable Care Act (ACA) which required companies to file more paperworks in order to stay compliant.
Increased regulation required an HR software to provide a complete solution. Unfortunately, there is a small number of complte HR solution in the market.
Another prominent name in the HR software is Namely, which has just received another round of funding. According to PE Hub Network, Namely received a $30 million in a late-stage funding round led by Sequoia Capital. With this funding, Namely has raised a total $107.8 million in total investment.
As an early-stage company, Natural HR provide a new Human Resource software in an area which rarely attracted software startups. Now, with a new capital from Midven, the company will further develop its technology.