TeamOhana, a San Francisco-headquartered headcount management firm, has raised $4 million in a seed funding round led by Sierra Ventures.
Katalyst Ventures and a slew of angel investors including, Notion COO Akshay Kothari, Aurora Solar cofounder Samuel Adeyemo, Airbase founder Thejo Kote, Phenom co-founder and chief people officer Brad Goldoor, Skyflow cofounder Anshu Sharma, Cacheflow cofounder Sarika Garg, Observe.ai co-founder Sharath Narayana, Sila co-founder Shamir Karkal, Modern Treasury VP of finance Keith Masuda, and Cledara CMO Rob Glickman also participated in the round.
TeamOhana will use the capital to scale its product and team. It will also hire senior executives for positions such as head of marketing and head of sales. The company currently has 20 employees, of which 80% are from India. The rest of the employees are from the US, Europe, Asia, and Africa.
Founded in 2021 by Tushar Makhija and Baishampayan Ghose, TeamOhana aims to address the problem of poor headcount planning and management.
Ghose told Entrackr that many firms do a lot of repetitive and manual work to manage data from multiple sources, such as applicant tracking systems, human resources information systems, hiring plans, compensation plans, and more. They also rely on large non-intuitive spreadsheets, making it difficult for business leaders to track real-time information about human resources, including insights such as upcoming hires, salary brackets, and more.
TeamOhana, however, serves as an alternative by providing a collaborative platform that makes it easier to track hiring plans, total hires, the status of hiring, cost increases, etc at a single platform.
It has also added a real-time headcount analytics feature, which combines data from different systems into a customizable dashboard to show current and forecasted headcounts. The startup works with firms such as Docker, Postman, Honeybook, Modern Treasury, and Newsela.
TeamOhana is looking to tap into the flourishing HR-tech market, poised to be worth over $38 billion by 2030. Some of the prominent global names in the sector are Workday (public-listed) and ChartHop, which last year raised $35 million in an Andreessen Horowitz-led funding round.
Ghose disclosed that the company’s revenue grew 400% in the last quarter. Nearly 70% of the revenue came from companies with more than 500 employees and valuations over $1 billion, he added.
“We are planning to expand the product, design, and engineering team in India in the coming year. We already have a business development team in India, and we will continue to invest in that further,” he said.