HR Duo
HR Duo provides HR solutions to SME’s by integrating industry knowledge with the latest technology.
£3.2m
TOTAL INVESTMENT
Leinster, Ireland
LOCATION
Technology
Sector
December 2022
INITIAL DEAL
Live
Overview
In 2023, Puma Private Equity completed a £3.2 million investment into HR Duo, as part of a £3.9 million round of funding alongside existing investors. HR Duo is an Irish HR tech company headquartered in Dunshaughlin, Co Meath. It has used this investment to accelerate product development, grow its workforce, and drive international expansion.
About HR Duo
HR Duo provides HR solutions to SMEs, by integrating industry knowledge with the latest technology to deliver the estimated 80% of HR requirements that can be automated.
The easy-to-use, low-cost and up-to-date ‘always on’ availability makes it ideal for its target market of SMEs with 50-1,000 employees, acting as a bolt-on support for HR personnel, or indeed as an HR back-up for companies without a dedicated HR department. The company’s services are available online as a cloud-based Software as a Service (SaaS), with subscriptions starting from as little as £10 per employee per month, with no up-front costs.
The use of HR Duo’s technology frees up its clients to focus on the key 20% of HR that requires the application of judgement and expertise: namely, critical business decisions and people management. The current approach to HR for many firms relies on either under-resourced in-house HR functions, or impersonal software tools, which often go unused and unmanaged. HR Duo provides clients with the opportunity to leverage modern technology to streamline its processes, founded in the management team’s long-standing HR expertise.
Puma had invested in HR Duo alongside seed investors – including Alan Merriman of Elkstone and Joe Hogan of Openet – underscoring the commitment of the founding investors in the future of the business.
THE COMPANY'S VIEW
“We are delighted to welcome Puma Private Equity on board, who will provide not only the necessary funding but also the expertise that will help drive our ambitious growth strategy. Our near- to mid-term objectives are rapid revenue growth and staff expansion, not only in Ireland but also in the UK, where we see enormous untapped opportunity for the unique services that HR Duo offers. This is an exciting time for the company, and we look forward to a bright future revolutionising the HR needs of thousands of SMEs worldwide.”
OUR VIEW
“With the UK’s HR Tech market rapidly growing, and SMEs increasingly seeking to improve their employees’ working experience, it’s the perfect time for an innovative and ambitious company like HR Duo to expand into the UK and make its mark. We see significant potential to empower UK SMEs, harnessing established HR experience to enable value creation through workforce engagement. We are thrilled to be working with HR Duo and its management team and are excited to see where this journey takes us.”