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Japanese human resources technology startup SmartHR has raised $140 million in a Series E round led by KKR and Teachers Venture Growth, the late-stage venture and growth investment arm of the Ontario Teachers Pension Plan.
SmartHR said in a statement on Monday that existing investors World Innovation Lab (a Canva backer) and Light Street Capital (whose portfolio companies include Unity) also participated in the Series E round. The statement did not disclose the round’s valuation.
SmartHR has previously raised $142.5 million in Series D funding at a valuation of $1.6 billion from investors including Greyhound Capital, a backer of South Korean billionaire Lee Seung-gon’s Viva Republica, Light Street Capital, Sequoia Capital Global Equities, Sequoia’s public/private crossover fund, and Databricks backer Whale Rock Capital.
Founded in 2013, SmartHR’s human resource management software helps businesses manage recruitment, employee management, new employee onboarding, employment contracts, pay slips, taxes, and more.
“Smart HR plays a key role in enabling the country’s efforts towards improving workforce productivity while accelerating digitalisation and cloud adoption,” Mukul Chawla, partner and head of growth equity, Asia Pacific, at KKR, said in a joint statement with TVG.
“As more Japanese companies transform their businesses with digital solutions, SmartHR is well positioned to support a variety of workforce management needs,” Olivia Steedman, executive managing director and global head of Teachers Venture Growth, said in a joint statement.
