KKR, a global investment firm, and Teachers’ Venture Growth (TVG), the investment arm of Ontario Teachers’ Pension Plan, have announced definitive agreements to jointly lead a US$140 million (JPY 21.4 billion) Series E fundraise for SmartHR. This investment aims to bolster SmartHR’s growth through new solution development, talent acquisition, and strategic expansion.
- Joint Leaders: KKR and TVG will jointly lead the $140 million Series E fundraise.
- Purpose: Funds will be used for growth acceleration, talent acquisition, and both organic and inorganic expansion strategies.
- Participation: Existing shareholders will also participate in the fundraise.
- Founding Year: Founded in 2013.
- Platform: Cloud-native human resources management platform.
- Services: Offers solutions for employee management, administration, growth, talent management, and productivity.
- Client Base: Serves a wide range of businesses, from large enterprises to SMEs.
- KKR’s Perspective:
- Mukul Chawla: Emphasized SmartHR’s role in enhancing workforce productivity and accelerating digitalization in Japan.
- Asia NGT Strategy: Investment aligns with KKR’s strategy to support innovative and disruptive local champions.
- TVG’s Perspective:
- Olivia Steedman: Highlighted SmartHR’s innovative solutions for workforce management and development.
- Support for Digital Transformation: TVG aims to leverage global expertise to support SmartHR’s growth.
- Asia NGT Investments in Japan:
- Yayoi: Financial and accounting software for SMEs.
- NetStars: QR code payment gateway.
- dataX: Marketing SaaS platform.
- Other Asia Investments:
- GrowSari: B2B e-commerce in the Philippines.
- KiotViet: SaaS platform in Vietnam.
- Privy: Digital identity provider in Indonesia.
- MUSINSA: Online fashion platform in Korea.
- Lenskart: Eyewear retailer in India.
- Advanced Navigation: AI-powered robotics in Australia.
The $140 million Series E fundraise led by KKR and TVG marks a significant milestone for SmartHR, supporting its mission to innovate and enhance HR management solutions in Japan. This partnership will drive SmartHR’s growth, leveraging both KKR’s and TVG’s global expertise and networks.
