Clare company HRLocker raises EUR 2 million in first round of financing

Lahinch-based HRLocker has raised €2 million in funding.

This is the first round of funding for Clare, a company that provides HR software for SMBs and scaling businesses.

The round was led by investment firm Macx3 Investments along with a number of entrepreneurs, family offices and private EIIS investors

The company now plans to use the funding to expand into new international markets and expand its product offering. HRLocker said it will also aim to expand its existing customer base in the Irish and UK markets.

The Clare company currently has around 45,000 daily users and over 700 customers.

Previously, the deal was Bootstrap, with revenue up 139 percent over the year leading up to the funding round.

“We’re constantly improving the platform to ensure it meets the needs of our customers, whether it’s visualizing data for reports or enabling smoother flexible working,” said Chief Executive Adam Coleman.

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

The software is aimed at SMEs with 25 to 500 employees and offers GDPR-compliant features such as employee databases, time management, performance management and payroll accounting.

Demand for such solutions has increased since the pandemic broke out, with more employees now working remotely. HRLocker, which employs 47 people, said the majority of its employees are also spread around the world.