WhatsApp HR Platform for Deskless Workers Secures ZAR60 Million Funding for Expansion, Courtesy of Jem HR
South African Startup Jem HR Secures ZAR60 Million in Funding for Expansion
Jem HR, a WhatsApp-based platform specializing in human resources and employee benefits, has secured ZAR60 million (US$3.3 million) in pre-Series A funding. The investment, led by Next176, a venture capital firm supported by Old Mutual, includes a ZAR30 million (US$1.65 million) private debt facility.
The funds will be utilized to scale Jem HR's platform, enhancing its human resources technology solutions. This expansion aims to improve service offerings, invest in product development, and increase market reach. The ultimate goal is to deliver more robust, efficient, and comprehensive HR management tools, better serving Jem HR's clients.
Simon Ellis, co-founder and CEO of Jem HR, highlighted the importance of the funding for the company's growth and product development. Ellis emphasized the significant demand for Jem HR's platform, driven by the challenges faced by deskless workers.
The investment will also enable Jem HR to grow its team and introduce new products aimed at enhancing the financial well-being of deskless employees. These new offerings will include savings tools, low-cost insurance, credit score support, a financial wellness helpline, and additional services like airtime and data bundles.
Tramayne Monaghan, chief venture officer at Next176, expressed excitement about the investment in Jem HR. Monaghan noted that Next176 invests in businesses that foster sustainable, disruptive growth.
Jem HR seeks to bridge communication gaps and deliver essential services to employees who may not have access to conventional digital communication platforms by capitalizing on the widespread use of WhatsApp. The platform allows companies to communicate with employees, distribute payslips, manage leave requests, and offer financial wellness products via WhatsApp.
Originally named SmartWage, Jem HR was founded in 2019 and rebranded in 2022. The expansion, made possible by this funding, will enable Jem HR to expand its reach beyond Southern Africa.
This investment by Next176 is a significant milestone for Jem HR's growth and product development. Jem HR's platform is transformative for businesses and significantly beneficial for employees, catering to the needs of frontline and deskless workers, a segment often underserved in the HR tech sector. The ZAR30 million debt facility is designed to scale alongside the platform's usage, enabling Jem HR to introduce new products aimed at enhancing the financial well-being of deskless employees.
The investment will allow Jem HR's team, led by Simon Ellis, to continue developing an innovative all-in-one platform, positioning the company for continued success in the future.
Venture capital firm Next176, supported by Old Mutual, has financed Jem HR's ZAR60 million expansion, backing the business venture to enhance technology solutions for human resources management. The funds will enable the growth of Jem HR's product portfolio, fostering financial well-being for deskless employees with offerings like savings tools, insurance, credit score support, and more.
With the investment, Jem HR intends to extend its reach beyond Southern Africa, aiming to revolutionize the HR tech sector through an all-in-one platform that bridges communication gaps for employees who may not have access to conventional digital communication platforms.
