As spearheaded by the Cercano Management and in support of AFG Partners, SoftBank Ventures Asia, Integra Partners, GSR Ventures, Mynavi Corporation, and ACA Investments, Sprout Solutions has managed to raise $10.7 million (~P591 million) in a Series B Funding.
Founded by the Gentry couple, Patrick and Alexandria, Sprout Solutions is currently servicing 180,000 active users and over 1,000 corporate clients. The startup found success in digitizing human resources (HR) software, which made an automated all-in-one solution for companies, ranging from recruitment, payroll, analytics, and performance management. Among its clients are big companies, such as Dole and the Ayala Land.
Gathering success that seems too hard to ignore, the Series B Funding makes history by being able to take the participation of SoftBank Ventures Asia, Cercano, ACA Investments, GSR Ventures, and Mynavi Corporation which had never invested in a Philippine-based company.
Before calling the Series B Funding a success, the SaaS company also made its breakthrough when it garnered $6 million in funding during a Series A as well as a $1.6 million seed funding, both in the same year in 2019.
Taking into account all sums of money raised so far, Sprout Solutions has a total of $18.3 million worth of investment at the present.