# PalmHR

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/palmhr

- Industry: Software
- Headquarters: Riyadh, Saudi Arabia
- Website: www.palmhr.net
- Latest round: Seed (Jun 18, 2020)
- Investors on record: 2

## About

Based in Saudi Arabia, PalmHR provides a comprehensive HR software solution designed to enhance efficiency for small and medium enterprises (SMEs) by centralizing payroll, performance tracking, attendance, and employee management functions.PalmHR, founded in 2018 and headquartered in Riyadh, Saudi Arabia, specializes in HR solutions for small and medium enterprises. The company has successfully completed 3 different investment deals, with its latest round occurring in February 2023 when it raised USD 5.00 mn in PRE-SERIES A funding. This round was co-led by RAED Ventures and Speedinvest, with additional participation from Wamda Capital. The founders, Christoph Czichna, Dragan Nikolic, and Richard Schrems, have brought their extensive experience in technology and business to support the company’s growth under the leadership of CEO Richard Schrems.PalmHR offers an all-in-one HR software solution tailored for SMEs in the Middle East, centralizing essential functions such as payroll automation, performance tracking, employee data management, and attendance monitoring. The platform facilitates seamless onboarding and offboarding of employees, document management, and attendance tracking through mobile capabilities, serving over 20,000 active users primarily in the Middle East and beyond.PalmHR employs a subscription-based revenue model, offering tiered pricing plans that grant clients access to varying levels of HR functionalities. These plans encompass essential services like payroll management and HR consulting, enabling businesses to select options that suit their operational needs and budget constraints. Their additional Concierge service provides expert HR outsourcing at a competitive rate, enhancing the overall value proposition for SMEs.Following its latest funding round on February 8, 2023, where PalmHR raised USD 5.00 mn, the company plans to utilize these funds to broaden its business reach and expand its team. Additionally, PalmHR aims to enhance its product offerings and is exploring opportunities to enter new markets across the Middle East and potentially beyond, although specific regions have yet to be disclosed.

## Funding rounds

- Seed, Jun 18, 2020 — DAAL, Nama Ventures

## Investors

- DAAL (https://capitalatlas.ai/funds/daal) — Seed
- Nama Ventures (https://capitalatlas.ai/funds/nama-ventures) — Seed