Myanmar HR tech startup raises bridge round to fuel SEA expansion

Better HR’s Myanmar team / Photo Credit: Better HR

Better HR, a Myanmar-based human resources tech startup, has raised an undisclosed amount of bridge funding from Blibros, a Swedish family office, and Satori Giants.

The firm offers a cloud-based enterprise solution to streamline HR processes for small and medium-sized companies, including tracking attendance, leave, and overtime, as well as managing payroll.

The funding will help Better HR expand its operations across Southeast Asia.

Currently, Better HR’s tailored payroll services are available in Singapore, Vietnam, Cambodia, Sri Lanka, and Myanmar. To expand its reach and impact throughout the region, the company plans to use the new funds to open additional offices in other key Southeast Asian markets.

Better HR has seen challenges in the past such as the temporary closure of its Yangon office due to civil unrest in Myanmar. Despite this setback, the company said that the number of its active clients has grown from 78 to over 380 following the office’s reopening in March 2022.

The growth was further fueled by the establishment of new offices in Colombo, Sri Lanka and Phnom Penh, Cambodia.

Originally a spin-off of Myanmar-based digital agency Nexlabs, Better HR had secured previous funding from Seed Myanmar Ventures in 2019. The company also raised a separate bridge round in 2022 from Seed Myanmar Ventures, Blibros, and Nexlabs.

See also: Southeast Asia tech ecosystem report