Peoplespheres, a startup that was created in 2017 by Philippe Bloquet, has just raised €8.5 million in a funding round led by Omnes, IRDI CAPITAL, UL Invest, and SWEN. The startup has a PaaS (Platform as a Service) solution that connects and synchronizes HR software in companies.
Peoplespheres boasts a diverse range of customers, from La Poste Mobile to Decathlon, Itelios, and Wonderbox, and has 260 clients in total. The startup is successful because it offers different deals for companies of all sizes, from 250 to 20,000 employees.
With this funding, Peoplespheres aims to accelerate its development in France, enhance its platform, and expand its market internationally, with the goal of being profitable by 2022.
The HR software market is highly competitive, and many companies are vying for market share. However, there is a growing need for HR software that can connect and synchronize multiple systems, and Peoplespheres is filling that gap.
Omnes is a French investment firm that focuses on private equity, infrastructure, and energy transition. IRDI CAPITAL is a French private equity firm that invests in small and medium-sized businesses. UL Invest is the investment arm of UL, a safety science company. Finally, SWEN is a French asset management company that specializes in responsible investment.
Peoplespheres' success is due in part to its ability to connect and synchronize HR software, but also to its ability to offer different deals for different-sized companies. The company's future looks bright, and with the right investment and development, it could become a major player in the HR software market.