The Kenjo team
We are delighted to announce our investment in Kenjo (Redalpine Capital IV) - the Berlin-based startup has raised a €5 million Seed Round led by Redalpine. The funding will mainly be used for product development. "In the long term having a great product is an absolute must. Therefore we are multiplying its budget", Cofounder and CEO David Padilla said.
HRTech is a big area for investment because competition for talent will become tougher and companies that offer a better employee experience will win the war for talent. We believe that in order for employers to stay relevant and competitive in the market they must foster their unique culture to help them attract and retain talent. This means enabling employees to have more control over their personal and professional development opportunities with the flexibility of working remotely while maintaining a connection to the company and peers.
Kenjo is a modern, full-service HR and culture platform that automates admin work by providing a single-view access to the most important information and enabling employees to take ownership of their professional development. Kenjo's software helps HR professionals in several areas - such as managing vacation schedules, personnel evaluations, performance management, employee happiness and payroll accounting. It also helps with the recruitment and onboarding of new employees. The subscription software is designed to make personnel work more efficient and at the same time increase employee satisfaction.
COVID-19 has made seamless HR more important than ever as employees increasingly work remotely. "Covid and therefore increased remote working has created new HR challenges around issues like engagement, communication, culture, onboarding, performance, etc," Padilla told "The value proposition for employees didn't exist 10 years ago but the balance of power between employee and employer has shifted. Flexibility, career development, and growth are now key considerations."
To that end, Kenjo offers a suite of services to small and medium size businesses (up to 1,000 employees) across Europe to help with employee engagement and communication.
Covid is fuelling a boom in HR tech in what could be a $150 billion marke. Alongside that is an increased understanding that development goals should be a priority for HR teams. A recent study from PwC found that employee experience and development were among the top tech applications with HR.
We look forward to supporting Kenjo and the whole team in its growth and journey to the next milestones.
For further information visit Kenjo’s website or read this Business Insider article.