Polish Innovation Nest participates in a €8.8M round for German HR-tech Kenjo
18 September, 2023, 17:41
Berlin-based HR-tech startup Kenjo has announced its fresh €8.8 million Series A round to expand to Latin America. The investment was led by Hi Inov, including participation from Lightbird, Innovation Nest, Redalpine, and The Delta.
- Launched in 2017, Kenjo offers solutions focused on optimizing HR processes, including time and attendance tracking, holiday and absence management, shift planning, payroll, data analysis, and performance evaluations. Its main goal is to reduce administrative tasks in the HR department and to make it easier for companies to comply with labor regulations in various countries.
- Kenjo has offices in Madrid, Berlin, Zurich, and Mexico City, as well as a client base of more than 1,000 companies with between 20 and 500 employees.
- Hi Inov, a European B2B fund based in Paris, Lyon, and Munich, led the current round. The fund is focused on digital deep-tech companies.
- The investment also saw participation from Bern-based early-stage VC firm Lightbird, Redalpine, Swiss venture capital firm that empowers game tech startups, The Delta, a venture ecosystem with offices in London and Berlin.
- Polish Innovation Nest which targets early-stage B2B software companies also joined the investment. In November 2022, it joined the €10 million round for Hungarian-founded software startup Antavo.
- Kenjo will use the costs to strengthen its position in the DACH region (Germany, Austria and Switzerland) and the south of Europe. And it will also focus on its expansion into the LATAM region, which started in 2022.