Hybr1d, a Singapore-based startup that aims to streamline the IT and HR processes of businesses, has announced raising $3.2 million in a pre-seed funding round.
The round, which comes less than a year after its inception, was backed by venture capital investor Global Founders Capital, Japan’s MS&AD Insurance Group, tech investment firm 468 Capital, and early-stage VC 1982 Ventures, according to the announcement.
Founded in August 2022, Hybr1d is led by a team of serial entrepreneurs – Yoan Kamalski, Pauline Wetzer, and Aditya Anand – who previously founded companies like co-living platform Hmlet, furniture rental subscription service startup FOERNI, and chatbot firm Tellephant.
The startup offers a unified platform that allows business owners to manage everything from onboarding, procurement, payroll, devices, leave, attendance, and more.
Hybr1d said it has attracted marquee brands and fast-growing companies since its launch, including Carousell, Sleek, CyberSierra, Beam Mobility, and Multiplier.
“Our platform is designed to help companies of all sizes save on cost and prepare for the AI revolution, and we are excited to continue to support businesses as they transform their IT and HR processes,” Kamalski, Hybr1d’s co-founder and CEO, said.
The company claims to have served more than 5,000 users in at least 30 organisations across 80 countries, helping them reduce their annual operational expenses by up to 30%.
The company plans to use the fresh funding to invest in technology development, recruit across all functions, and expand its reach across the Europe, APAC, and Middle East regions.
Hybr1d’s funding comes as Southeast Asia’s privately held companies raised a little over $2 billion in the first three months of this year, recording the lowest deal value in two years, according to the SE Asia Deal Review Q1 2023 released by DealStreetAsia.
Some of the HR tech startups that raised funding this year include Philippines-based Sprout Solutions, which raised about $10.7 million in a funding round in April, led by Cercano Management. Singapore-headquartered HR tech unicorn Darwinbox also secured an undisclosed equity investment from Microsoft in January.