Swingvy, a software-as-a-service (SaaS) HR company with offices in Kuala Lumpur, Singapore, Taipei, and Seoul, has managed to raise US$ 7 million in a series A funding round led by Samsung Ventures. Following this round, the funds raised by the startup now total US$ 8.6 million.
With a reported client base of almost 5000 companies, the funds will facilitate the growth plans of the startup, which includes expansion in the Asia-Pacific region, as well as development of its team to support product innovation.
Co-founded by Tho Kit Hoong of Malaysia along with Jin Choeh, Hyojun Lee and Jahun Koo of Korea, Swingvy, aims to automate all the mundane and tiresome HR-related tasks, by linking HR, payroll, and employee benefits on a mobile-first online platform.
Swingvy will not only offer centralised calendar functions, but also automate the process of recruitment and termination, making life a lot simpler for HR personnel. It will facilitate the maintenance of a comprehensive database of employee records, and also ensure the smooth and efficient dissemination of various official announcements.
The funding will help Swingvy compete with about 160 HR tech service providers, with the likes of Urbanhire, Sleekr, Pulsifi, and JobTech offering the maximum competition.
Other investors who participated in this round of funding included Aviva Ventures, Bass Investment, Walden International and Big Basin Capital, in addition to Samsung Ventures, which is the startup investment wing of Samsung.
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