B2b 120m series greenoaks capital lightspeedsinghtechcrunch
B2b 120m series greenoaks capital lightspeedsinghtechcrunch Venture Partners have announced the successful completion of a $120 million Series B funding round for SaaS-based HR platform, Sigtuple. The funding round was led by Greenoaks Capital, with participation from Lightspeed Venture Partners. The company plans to use the funds to expand its product offerings and accelerate its growth in the global market.
Sigtuple’s Innovative HR Platform
Sigtuple is a cloud-based HR platform that uses artificial intelligence and machine learning to automate HR processes. The platform offers a range of features, including employee onboarding, performance management, and payroll management. Sigtuple’s innovative technology allows companies to streamline their HR processes, reduce costs, and improve employee engagement.
The Importance of SaaS-based HR Platforms
SaaS-based HR platforms are becoming increasingly popular among businesses of all sizes. These platforms offer a range of benefits, including cost savings, improved efficiency, and increased productivity. By automating HR processes, companies can reduce the time and resources required to manage their workforce, allowing them to focus on other areas of their business.
The Future of SaaS-based HR Platforms
The global market for SaaS-based HR platforms expected to grow significantly in the coming years. According to a report by MarketsandMarkets, the market is expected to reach $10.7 billion by 2024, growing at a CAGR of 13.7% from 2019 to 2024. This growth is being driven by the increasing adoption of cloud-based technologies. As well as the need for businesses to improve their HR processes.
Conclusion:
The successful completion of the $120 million Series B funding round for Sigtuple is a testament to the growing importance of SaaS-based HR platforms in the global market. With the support of Greenoaks Capital and Lightspeed Venture Partners. Sigtuple well-positioned to expand its product offerings and accelerate its growth in the coming years. As the market for SaaS-based HR platforms continues to grow, companies like Sigtuple will play an increasingly important role in helping businesses streamline their HR processes and improve their overall efficiency.
