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Socium doubles down on Francophone Africa after $5M seed round | TechCrunch

Nov 19, 2024 - techcrunch.com
Senegal-based HR-tech startup Socium has raised $5 million in seed funding to expand its HR solutions in Francophone Africa. The company, which has been operating since 2021, offers a platform that enables clients to recruit, pay, and manage talent, and plans to use the funding to expand its services in the region. Socium's co-founder and CEO, Samba Lo, revealed that the company is focusing on Francophone Africa due to the shared economic community, close regulations, and common currency, which makes it an attractive market for their HR software.

Socium's platform automates HR tasks and uses AI to match CVs to job offers and aid in writing job descriptions. The company is also planning to integrate with tax agencies to automate tax and regulatory filings for companies. Currently, Socium has over 100 active clients across 10 industries and 15 countries. The seed funding round was led by Breega, with participation from Partech, Orange Ventures, Chui ventures, Sonatel, Outlierz, Super Capital, Evolem, Techmind, and several angel investors.

Key takeaways:

  • Senegal’s Socium, a HR-tech solutions provider, is targeting growth in French-speaking African countries and has raised $5 million in seed funding to fuel its expansion plans.
  • The startup, which began as a recruitment website, has evolved into a comprehensive HR platform, offering services such as payroll, time management, and performance management.
  • Socium's solution uses AI to automate tasks and match CVs to job offers, allowing HR managers to focus on performance and career development.
  • The startup is also planning to integrate with tax agencies to automate tax and regulatory filings for companies, further reducing workload for HR departments.
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