Paris-based innovative tech startup, HR Path has announced that it has secured €225 million in funding, thereby setting a new record. This round combines the external growth-oriented bank financing and a reorganisation of equity around Andera Partners, a partner of the group since 2019.
Ambitious plans
The financing round was led by Andera Partners and a dozen of its subscribers, including Societe Generale Capital Partenaires (SGCP). Six French banks, including Société Générale, BNP Paribas, Crédit Agricole Ile de France, Banque Palatine, LCL and Caisse d’Épargne Ile de France have also subscribed to this operation. The investors remain minority shareholders of the group.
This new financing method not only offers liquidity to investors and shareholders but also allows the international group to benefit from additional financial resources to continue its growth. The company intends to continue its international expansion and strengthen its status as a global leader in the HR industry.
With double growth, HR Path aims to double its turnover within 5 years, receive 400 people a year in the coming years, and become the world leader in the digital transformation of the HR function.
“This new round will allow us to give ourselves the means to achieve our ambitions. We want to contribute to the improvement of HR performance, including through the acquisition of new companies. We want to share our HR expertise with large international groups and create HR innovation with them,” said François Boulet, co-president of HR Path.”
Cyril Courtin, co-president of HR Path, added: “The topics around human capital are more than ever a priority: adapting to change, data security, employee attraction, and employee engagement. Thanks to our own talents, their expertise, and their involvement alongside our customers, HR Path is able to meet all these challenges that allow companies to improve their HR experience. That is why we strongly believe in our potential and we welcome the renewed confidence of our financial partners.”
François-Xavier Mauron and Antoine Le Bourgeois, partners of Andera Partners, said: “For the past 3 years, we have financed and supported the change of scale of this champion wishing to become a leading global player in its market. It is with pleasure that we will continue to support HR Path in its projects. This new method of managing shareholdings allows us to continue to create value on a performing asset for which we have a strong conviction.”
Marc Jacquin, Director of Participations at SGCP explained: “After having accompanied the group on the occasion of its first operation in 2015 and again in 2017, SGCP is pleased to participate in this new stage of the HR Path group and to support the management in its ambition to build a global player in a dynamic and strategic market of the HR function for companies.”
What does HR Path do?
Founded in 2001 in Paris by François Boulet and Cyril Courtin, HR Path is an innovative tech company that covers the entire field of human resources. It advises, integrates, and operates for more than 1,500 clients in 19 countries.
It helps companies that consider that human experience is essential to their digital transformation. The company works with the mission to streamline HR business processes, optimise the company’s return on investment, make clients more autonomous, and allow clients to maximise their primary expertise
HR Path is currently the main integrator of Cegid, Oracle Cloud for HCM, SAP SuccessFactors, Workday, HR Access, Sage and Talentsoft. At the same time, HR Path has developed its own software suite: PoweHR to address payroll management, time management, talent management, including the public sector and a decision tool.
