Syamil Faisal18 Oct, 2019
Philippine's key human resources (HR) and payroll management solutions provider: Sprout Solutions, closed its Series A round with $6 million capital from the following investors:
SouthEast Asia- based investors:
Sprout Solution is Point72 Venture’s first investment in SouthEast Asia, and NBV’s first venture in Philipines — indicating the growing interest of foreign investments.
As Philippines government begins enforcing more startup-friendly regulations, more and more new venture capital firms are emerging.
Some of them include Aboitiz Equity Ventures (AEV), JG Summit’s JG Digital Equity Ventures (JG DEV), and Seaoil’s Novel Capital.
As a software-as-a-service (SaaS) company, Sprout Solutions offers end-to-end processing and smooth automation across HR and payroll processes:
Pete Casella, Partner, Point72 Ventures said:
“We are pleased to support Sprout’s continued growth, product expansion, and mission to empower local businesses.”