TORONTO--(BUSINESS WIRE)--Humi, Canada’s leading all-in-one HR platform that provides thousands of Canadian businesses with HR, payroll, insurance, and benefits solutions, today announces $31M CAD in financing. The raise was led by Kensington Capital Partners, with continued participation from Tribe Capital and Struck Capital while welcoming new investors Telus Ventures, Flex Capital, as well as Mike Dinsdale, former CFO of Gusto, and Rodney Dobson, former President of ADP Canada & UK.
The funding will be used to further advance Humi’s software and help meet the growing demand for Humi’s products and services. Specifically, Humi will enhance its mobile experience and other employee-centric software features, like scheduling and integrated health benefits.
“Since the beginning, Humi’s mission has been to make the lives of businesses and its employees easier,” said Simon Bourgeois, Co-Founder and CEO of Humi. “The way Canadian employers and employees operate has changed drastically over the past two years, and without the right technology, this change is next to impossible for companies to keep up with. Humi is proud to support Canadian businesses through this continued workplace evolution and enable further adoption of an employee-first approach to driving success.”
Since Humi’s Series A of $15 million in August 2019, the company has seen incredible growth both internally and externally, with five times the number of employees on the platform and Humi’s net promoter score (NPS) increasing by four times. Humi’s focus remains on its people and building solutions to address employee recruitment, growth, and retention challenges.
“I've spent significant time and energy focused on the HR software industry, and have been impressed to see how Humi is solving unique challenges in this space through it's innovative technology,” said Mike Dinsdale, former CFO at Gusto. “We are still in the early innings of watching the HR software landscape evolve, and I'm excited to help unlock additional value for both business and their employees with my investment in Humi."
The pandemic has accelerated the evolution of Canada’s workplace. Unique workplace benefits have become table stakes, and typical workplace practices, like full in-office presence, have become a thing of the past. In order to keep up, businesses have had to adopt new technologies. Humi’s intuitive, all-encompassing platform has supported Canadian employers through this unexpected, accelerated evolution. Most notably, Humi has added additional product offerings including a Marketplace of employee benefits, business insurance, and a broader set of tools to support digital recruiting and onboarding of new employees.
To continue its commitment to supporting businesses through this phase of growth, in 2021, Humi released its annual HR data report which revealed COVID-19’s continued impact on the workplace. The report highlighted the primary opportunities for companies to lead in the areas of compensation and benefits, equal pay, equity, diversity, and inclusion (EDI), and the complete employee experience.
“We made the switch to Humi in 2021 and could not be more satisfied with our decision,” said Nicole Shea, HR Manager of Bitbuy. “As someone new to the Bitbuy team, I was responsible for managing the entire employee lifecycle from recruitment to onboarding, retention, and total rewards. With the ease and convenience of Humi’s platform, we were able to double our employees, growing our team to almost 100 employees with a near 0% turnover rate. Leveraging Humi’s applicant tracking system has created a seamless experience for our hiring managers to recruit across the company.”
About Humi
Humi is the leading all-in-one people solution for Canadian businesses. Serving companies nationwide, Humi supports and enables employers to take better care of their most important asset: their people. Before Humi, there was no truly unified solution that tied together all of the intricacies of employment for Canadian businesses.
To learn more about Humi, visit, www.humi.ca
About Kensington Capital Partners:
Founded in 1996, Kensington Capital Partners Limited ("Kensington") is an employee-owned, high-performing alternative investment firm with offices in Toronto, Vancouver, and Calgary. Our purpose is to build great businesses, and in doing so, create top-performing investment solutions for our investors. As of November 2021, Kensington has assets under management of $2.2 billion, managed across several active funds.
