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[FUNDING NEWS] Tokyo-Based SmartHR Raises $140 Million In Series E Round Funding

Tokyo Based SmartHR In its Series E funding round, which is co-anchored by private equity behemoth KKR and Teachers’ Venture Growth, the late-stage investment branch of Ontario Teachers’ Pension Plan, Japanese HR automation service provider SmartHR has raised $140 million.

With this deal, KKR is expanding its technological holdings in Japan, where it already owns dataX, a SaaS platform for marketing, and Yayoi, a provider of accounting and financial software for SMEs.

Founded in 2013, SmartHR offers tech-enabled HR solutions with an emphasis on growth, talent management, productivity, and personnel administration and management. Both big businesses and SMEs are among its clientele.

In 2021, the firm conducted a Series D fundraising round sponsored by US-based Light Street Capital, which raised approximately $143 million. Sequoia Heritage, Sequoia Capital Global Equities, Arena Holdings, Grayhound Capital, and Whale Rock Capital Management also supported the round.

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As per the most recent declaration, SmartHR intends to expedite its expansion by means of innovative solution creation, recruitment of skilled personnel, and both organic and inorganic growth tactics.

“SmartHR is an exceptional example of Japan’s new economy, and we are delighted to work with the company’s management, board, and TVG in supporting SmartHR in the next phase of its growth,” said Mukul Chawla, partner and head of Growth Equity, Asia Pacific, at KKR.

GrowSari, a B2B e-commerce platform for SMEs in the Philippines; KiotViet, a SaaS platform for SMEs in Vietnam; Privy, an Indonesian digital identity provider; MUSINSA, an online fashion platform in Korea; Lenskart, an omni-channel eyewear retailer in India; and Advanced Navigation, an Australian developer of robotics powered by artificial intelligence, are among the other investments made through Asia NGT.

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KKR has made $8 billion in investments in Japan since 2010. This makes it one of the prominent private equity firms that are significantly augmenting their investment in the nation due to the country’s economic expansion and evolving corporate landscape.

About SmartHR

One of the most innovative cloud-based HR systems that is helping Japanese businesses expand is SmartHR.

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