Co-founder of HR Path, Francois Boulet and Cyril Courtin | Image credit: HR Path
Paris-based HR Path, an HR digital transformation company, announced on Wednesday that it has raised €225M in a fresh round of funding. The company intends to use the proceeds to accelerate growth, both organically and externally, and expand its operations.
François Boulet, co-president of HR Path, says, “This new round will allow us to give ourselves the means to achieve our ambitions. We want to contribute to the improvement of HR performance, including through the acquisition of new companies. We want to share our HR expertise with large international groups and create HR innovation with them.”
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Investors in this round
The funding round was led by Andera Partners and a dozen of its subscribers, including Societe Generale Capital Partenaires (SGCP). Six French banks including Société Générale, BNP Paribas, Crédit Agricole Ile de France, Banque Palatine, LCL and Caisse d’Épargne Ile de France have also subscribed to this operation.
This round combines the raising of external growth-oriented bank financing and a reorganisation of equity around Andera Partners, a partner of the group since 2019, which is structuring a dedicated co-investment fund for the occasion.
The creation of such a fund for a company the size of HR Path is unprecedented in the market, claims the company. This new funding method not only offers liquidity to investors and shareholders but also allows the international group to benefit from additional financial resources to continue its growth.
According to Cyril Courtin, co-president of HR Path, “The topics around human capital are more than ever a priority: adapting to change, data security, employee attraction and employee engagement. Thanks to our own talents, their expertise and their involvement alongside our customers, HR Path is able to meet all these challenges that allow companies to improve HR experience. That is why we strongly believe in our potential and we welcome the renewed confidence of our financial partners.”
What does HR Path offer?
Founded in 2001 by Cyril Courtin and Francois Boulet, HR Path is a Human Resources company that supports companies for which the human experience is essential to their digital transformation. Advise, Implement, and Run are the 3 business lines of HR Path which contribute to our customers’ corporate HR performance.
It offers HR strategy consulting (Advise) through the implementation of software solutions (Implement) to payroll outsourcing (Run). The company aims to continue its expansion and expand its value proposition in all countries of the world, especially in the 19 countries where it is already present.
With a double growth, both organic and external HR Path aims to:
- Double its turnover within 5 years;
- Receive 400 people a year in the coming years
- Become the world leader in the digital transformation of the HR function
With 1,300 talents, HR Path advises, integrates, and operates in 19 countries for more than 1,500 clients. Its turnover to date amounts to €140M.
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