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Saudi HR-Tech platform It raised $5 million in its pre-seed round with participation from Speedinvest and Raed Ventures, MENA-focused Wamda Capital.
The company will use the funds to support its customer acquisition efforts to ramp up its product offering and hiring. It also aims to expand throughout Saudi Arabia, Egypt and the Emirates.
The investment also marks the entry of Europe-based early stage investor SpeedInvest into Saudi Arabia.
In the year Launched in 2019 by Richard Schrems, Christoph Cicna and Dragan Nikolic, palm.hr was developed to support Saudi Vision 2030, empowering businesses with technology to attract, develop and retain employees. Employees at companies like Saudi Venture Capital, Moz, Genie, Rabbit and more use palm.hr.
The company’s platform can be configured to meet local labor laws and employment regulations in different markets. It has a single platform for workforce information and management and includes features for employee engagement, payroll, insurance, documentation and more. For multinational businesses in the region, it also has a built-in multi-currency feature to support international payments.
In Saudi Arabia, palm.hr is integrated with government services such as Mudad, General Social Security Organization (GOSI) and Muqim..
Palm.hr is available for users on desktop, with mobile apps available for both Android and iOS users.
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