SmartHR raises $4.8M in Series A funding round from World Innovation Lab and two others

SmartHR handles enrollment in local insurance and employment assistance benefit programs

Tokyo - August 30, 2016. RedNewswire/-

Situated in Tokyo, cloud-based personnel management platform SmartHR announced today that it has fundraised about $4.8M in the latest funding round.

This round was led by WiL (World Innovation Lab) with participation from Beenext and 500 Startups Japan as well as three angel investors - Kotaro Chiba, co-founder of Japanese mobile gaming developer Colopl, Yu Akasaka, CEO and co-founder of Japanese dating app developer Eureka and Jun Nishikawa, COO and co-founder of Eureka.

The startup says that the current process is too cumbersome; for example, if a woman wants to go on maternity leave, there are countless forms. SmartHR is an online enrollment and benefits management service that automatically creates applications for benefits to government offices.

Attorneys charge roughly JPY 20,000 (US$162) per filing, whereas SmartHR charges as little as JPY 980 (US$8) a month for companies with five or fewer employees (the most expensive tier is JPY 19,800 (US$160) monthly for a maximum of 50 employees).

According to Kufu CEO Shoji Miyata, Akasaka and Nishikawa (of Eureka) were the first paying enterprise user for SmartHR while they and Chiba have been playing a mentor-like role for Kufu who has had no angel investor aboard his company.

The company plans to use the fund to expand the team of 20 people to 35 people.

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