Riding a wave of impressive growth, PeopleForce, the Ukrainian-founded all-in-one HR platform, has successfully closed a significant $5.38 million Pre-Series A funding round. This strategic capital injection, attracting investment co-led by Pracuj Ventures and u.ventures, alongside Dnipro VC and Sturgeon Capital, is set to accelerate the company’s international ambitions, with a primary focus on capturing the dynamic Polish market.
From Foundation to Force:
Launched in 2019 by Andriy Setinik, PeopleForce has rapidly established itself as a leader in the HR Tech space. Its mission? To streamline and optimize the entire employee lifecycle through a unified platform, enhancing both HR processes and employee experience.
The platform’s success is quantifiable:
- Global Reach: Serving over 1,300 clients across 30 countries.
- Active User Base: Engaging more than 100,000 active users.
- Impressive Roster: Counting Polish market leaders like Autenti, eSky Group, and Brand24, alongside international giants such as TestDevLab, Paysera, and Ajax Systems among its clientele.
“Over the last 12 months, we’ve achieved 80% global ARR growth”, stated Mykola Mykhailov, co-CEO of PeopleForce. “In our key markets, the results are even more striking – both Poland and Latin America saw revenue multiply by 2.5 times”.
Strategic Investment for Targeted Growth:
This $5.38 million Pre-Series A funding is fresh capital, separate from a $2 million seed round secured in February 2024 (which also involved Pracuj Ventures and targeted Poland and LatAm).
Pavel Leks, Managing Partner at Pracuj Ventures, commented on their continued support: “PeopleForce’s innovative approach to HR process automation positions them as a leader in transforming personnel management. The team has proven its ability to strategize clearly and execute effectively. Their focus on creating client value aligns perfectly with our investment philosophy”.
u.ventures also confirmed their participation, indicating their investment could range significantly, underscoring their belief in PeopleForce’s potential.
Fueling the Future:
The newly acquired funds are earmarked for strategic initiatives designed to cement PeopleForce’s market position and drive further growth.
“Thanks to this investment, we plan to expand our local Go-To-Market (GTM) teams”, added Mykhailov. “We’ll also further automate HR processes, tailoring them to the specifics of each market to more effectively support our clients’ growth”.
The capital will specifically bolster operations in Poland, Mexico, and Colombia – three key regions identified for their dynamic growth potential. This strategic funding empowers PeopleForce to accelerate its expansion and continue its mission of transforming HR processes on a global scale.
