HR services startup bags $7m from Samsung Ventures, others

Human resources services platform Swingvy raised US$7 million in a series A round led by Samsung Venture Investment Corporation, Samsung’s venture capital arm for early-stage startups. This bumps up the startup’s total funding to US$8.6 million.

Aviva Ventures, Bass Investment, as well as existing investors Walden International and Big Basin Capital participated in the round. This marks Samsung Venture Investment Corporation’s first investment in Southeast Asia, Swingvy said.

The Swingvy Team / Photo source: Swingvy

Founded in 2016, Swingvy connects HR, payroll, and benefits information, and automates administrative tasks for small and medium-sized businesses. It plans to use the fresh funds to grow its presence in Asia Pacific, starting with Taiwan. It currently has offices in Kuala Lumpur, Singapore, Taipei, and Seoul.

“While HR tech is a fast-growing sector in the US, it has not been highlighted in the APAC region, especially for small companies. They often struggled with manual HR processes or using complex and expensive software,” Swingvy co-founder and CEO Jin Choeh said in a statement.

The startup also plans to scale its product innovation team to speed up product development.

Swingvy said it currently serves over 5,000 companies and claims to have grown 390% revenue-wise over the last year.