Worky, an integrated HR and payroll software solution catering to Mexican companies, has successfully closed a Series A financing round, raising $6 million. Led by Atlántico, a Brazil-based fund, and with participation from ADP Ventures, the funding aims to propel Worky’s mission of modernizing workforce management processes in Mexico.
- Founding Vision and Market Focus:
- Founded in 2018 by Maya Dadoo and Carlos Marina, Worky aims to revolutionize how companies recruit, manage, and pay their employees, with a particular focus on the operative workforce sector.
- Worky targets Latin America, starting with Mexico, where the dynamic job market witnesses approximately 60% of SME employees changing jobs annually, significantly impacting labor and economic productivity.
- Product Innovations and Market Positioning:
- Worky introduced Mexico’s first cloud-native payroll solution, Worky Payroll, along with a robust shift management module in 2022.
- These innovations enable seamless integration of workforce operations and revenue variability processes, enhancing compliance and efficiency through Worky’s real-time payroll system.
- Investment and Market Potential:
- The $6 million Series A funding, led by Atlántico and with participation from ADP Ventures, signifies confidence in Worky’s potential to disrupt the Mexican HR and payroll market.
- Worky addresses the growing demand for reliable payroll solutions amid regulatory changes, positioning itself as the leading HR hub in Mexico.
- Impact and Customer Acquisition:
- Worky’s comprehensive platform has reduced employee rotation by 30% and increased job permanence by an average of 80% for companies, leading to improved financial performance.
- With over 40,000 users in Mexico, Worky is expanding its services to cater to the needs of the blue-collar industry, where the majority of the Mexican workforce operates.
- Future Plans and Expansion:
- The funding will fuel Worky’s mission to streamline HR and payroll processes for Mexican businesses, accelerating product development, expanding sales and marketing efforts, and strengthening the team.
- Worky aims to bridge the gap between payroll management, data, and employee benefits, offering a unified platform that ensures legal compliance, enhances efficiency, and reduces operational costs.
CEO Statement and Vision:
Maya Dadoo, CEO and co-founder of Worky, emphasizes the company’s commitment to addressing the pain points of managing large workforces in Mexico. Worky’s infrastructure promises a reliable payroll experience while fostering a permanent relationship with employees, aligning with megatrends like the future of work and increased labor regulations.
Worky’s successful Series A funding marks a significant milestone in its journey to transform HR and payroll operations for Mexican businesses. With a focus on innovation, compliance, and customer satisfaction, Worky is poised to lead the way in modernizing workforce management in Mexico, driving efficiency, and facilitating sustainable growth for its clients.
