In a remarkable display of confidence and ambition, Jet HR, an Italian startup, has successfully raised €12 million in a Seed funding round just one year after its inception. This brings the total funding raised to €16.7 million, a testament to its rapid growth and innovative approach to payroll management in Italy.
Founded by Marco Ogliengo and Francesco Scalambrino, Jet HR aims to dismantle the complex bureaucratic processes associated with payroll and human resources, which have long been a source of frustration for businesses in Italy. The startup provides a sophisticated tech platform that not only automates payroll processes but also streamlines related administrative tasks, making it easier for companies to focus on their core operations.
Hundreds of clients, including notable names like HelloFresh and Octopus Energy, have embraced Jet HR’s solutions, benefiting from enhanced transparency in payroll costs, simplified contract management, and substantial time savings through the elimination of paperwork. The platform’s ability to automatically apply tax breaks has also contributed to significant financial savings for businesses.
Marco Ogliengo, CEO of Jet HR, emphasized the company’s trajectory, stating, “It is clear that we are on the right track. With hundreds of satisfied clients and the backing of distinguished Italian investors, we have gained the trust of an international fund like Picus Capital. They recognize our potential, and we are eager to learn from their expertise as we strive to ease the burden of bureaucracy for businesses in our country.”
The funding round, led by Picus Capital, also saw participation from prominent investors such as Exor Ventures, Italian Founders Fund, and 2100 Ventures. Noteworthy individuals like Diego Piacentini, former government Commissioner for Italy’s Digital Agenda, and David Clarke, former CTO of Workday, are also part of the cap table, reinforcing the credibility and ambition of Jet HR.
Robin Godenrath, Founding Partner and Managing Director of Picus Capital, commented, “We’re thrilled to back Marco, Francesco, and the entire Jet HR team on their quest to revolutionize the Italian payroll landscape. The complexity of Italy’s payroll regulations presents a unique opportunity for Jet HR’s innovative and digital solutions.”
As Jet HR continues to grow, the team plans to expand its workforce, now 70 strong, with a focus on research and development. Upcoming features include contractor management, designed to provide companies with a comprehensive view of their total workforce and associated costs.
Editorial Opinion
Jet HR stands at the forefront of a transformative wave in the payroll industry. By combining advanced technology with expert guidance, the startup addresses a pressing need for businesses grappling with Italy’s cumbersome bureaucracy. The potential for AI-driven automation to reshape this €4 billion market is immense, especially as companies increasingly seek efficient, scalable solutions.
The trust placed in Jet HR by esteemed investors and industry veterans indicates a shared belief in the startup’s vision and capabilities. With a strong foundation and a clear growth strategy, Jet HR is poised to make a significant impact not just on payroll processes but on the broader economic landscape in Italy. As they roll out new features and continue to refine their offerings, it will be exciting to witness how they can further enhance operational efficiency for a diverse range of clients.
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