Sesame HR, a Valencia-based human resources platform, is harnessing a €50 million investment from BBVA Spark to push into new markets across Europe and Latin America. With a robust clientele and a strong foothold in Spain, Italy, and Portugal, the company plans to venture into France and Germany while also enhancing its presence in Mexico and Brazil. Sesame HR’s efforts revolve around scaling its human resources technology and integrating artificial intelligence into its operations to streamline workforce management.
Previous funding rounds for Sesame HR have primarily supported its domestic growth and early international efforts. With the new partnership with BBVA Spark, the focus has shifted toward establishing a broader international presence and refining its service platform globally. Unlike typical equity-based funding, this financing structure allows Sesame HR to maintain full ownership while pursuing extensive developmental goals.
What Does the New Financial Model Aim to Achieve?
The agreement with BBVA Spark is not just a financial backing but introduces a financing structure in Europe tailored specifically for SaaS companies. This strategic alliance facilitates Sesame HR’s ambitions to amplify its market share without equity dilution. Fund allocation emphasizes the integration and advancement of AI-driven solutions to optimize talent management processes.
“This agreement with BBVA Spark reinforces our sustainable growth strategy and confirms that innovation lies not only in technology, but also in the way we move forward,” stated a Sesame HR representative.
How Is Sesame HR Distinguishing Itself in HR Software?
Founded by Albert Soriano, Sesame HR offers a comprehensive platform that digitizes and optimizes various HR processes for over 15,000 companies globally. From time tracking to performance analysis, the platform provides an integrated approach to workforce management. Moreover, the technology is continually refined, ensuring a user-friendly interface that supports real-time data analytics to enhance decision-making.
Sesame HR’s expansive system gives organizations control over time, attendance, communication, and performance through a cohesive platform. Currently, operating in over 30 countries, it employs more than 350 personnel and serves an extensive user base, underscoring its impact across different regions.
Albert Soriano comments, “This new instrument is a genuine breakthrough for the European technology ecosystem. It will allow us to scale up internationally while continuing to focus on innovation in artificial intelligence applied to talent management.”
BBVA Spark, as part of its mission, aims at nurturing technology-friendly business environments by providing tailored financial solutions. This partnership with Sesame HR exemplifies BBVA Spark’s commitment to propelling tech companies forward without compromising their core business philosophies and ownership structures.
By holding onto its independence and leveraging this new financial instrument, Sesame HR is positioned to strategize its market approach efficiently. The company’s investment in technology and talent pinpoints a calculated expansion plan, ensuring long-term sustainability that taps into unexplored territories.
Through a keen focus on innovation and strategic financing, Sesame HR is paving the way to contribute substantively to the European HR technology market. For businesses evaluating global expansion, similar approaches to financial structuring and technology adoption could be highly beneficial, particularly in empowering rapid yet sustainable growth.
