Funding

[Funding alert] Stockholm-based Hailey HR Raises €1.7 million in Funding

Oct 17, 2023 | By Startup Rise EU

Stockholm-based HR Hailey Additional funding of €1.7 million through ArK Kapital, which will be utilized to accelerate its global growth with a focus on Denmark, Norway, Finland, Germany, the United Kingdom, and Poland.
 Henrik Jakobsson - CEO of Hailey HR

Stockholm-based HR Hailey Additional funding of €1.7 million through ArK Kapital, which will be utilized to accelerate its global growth with a focus on Denmark, Norway, Finland, Germany, the United Kingdom, and Poland.

Hailey HR made €0.6 million in revenues in 2022 after launching the first edition of the product in 2021. The business has 320 paying customers now and is still expanding quickly. ARR (Annual Recurring Revenue) of over €3 million will be expected by year's end.

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Henrik Jakobsson, CEO of Hailey HR said, “We continue to see a growing demand for our platform and constantly hear about more companies looking for a comprehensive service for all their HR needs, Through Ark Kapital, we can now also finance our expansion and increase our growth without having to give up any shares in the company.”

Due to banks' inability to assess the risk of businesses with unprofitable growth, the credit market has historically been limited to investment in early-stage tech enterprises.

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By bridging the gap among the credit market and the startup community, ArK's distinctive, data-driven strategy allows it to be feasible for more companies to receive financing from an infinitely wider capital pool than they might have done with just venture capital.

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Axel Bruzelius, co-founder and COO of Ark Kapital said, “Hailey HR has created a platform with high demand and has shown a good ability to deliver on its own plans, “The company has demonstrated robust, sustained, and predictable growth – which we have been able to see via our platform AIM – and we are pleased to be able to help finance the company’s next chapter now as Hailey HR enters more markets in Europe.”

About Hailey HR

Hailey HR, which launched in 2020, recognized a need and quickly created a complete platform that brings together the capabilities of several HR products under one roof. From signing contracts of employment and onboarding new employees to managing leave and absence, salary reviews, and employee surveys, the platform helps companies in streamlining the whole employee journey.

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