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Snapshot of a VC Deal: TribeHR

venture capitalWho: Waterloo, Ont.-based TribeHR, which offers an online service that helps small and medium size businesses improve their human resources processes.

How much: $2.5 million in a deal led by Relay Ventures, as well as Matrix Partners. TribeHR raised a $1-million seed round in July 2011 from Matrix.

The quote: “TribeHR has been built from the ground-up with the goal of simplifying day-to-day HR admin so that businesses can focus on building the best teams and promoting the strongest workplace culture. This new round of funding will allow us to enhance our solutions by adding both social and mobile features which will lead to increased effectiveness of the HR manager.” - Joseph Fung, TribeHR CEO.

Source: press release

 

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