Saudi-Based PalmHR Raises Bridge Round Funding to Develop HR Platform

Saudi-based PalmHR has raised undisclosed funding in a bridge round led by Nama Ventures, with participation from prominent Saudi angel investors.

The startup is working to reimagine the human resources (HR) and employee experience for small and medium-sized enterprises (SMEs) across the Middle East through a streamlined, all-encompassing, fully-automated human resources management system (HRMS) platform.

Handling everything from onboarding, vacation tracking, payroll, off boarding and other processes, PalmHR works towards engaging employees and enabling them to work more efficiently.

Founded in 2019 by Richard Schrems, Christoph Czichna, and Dragan Nikolic, PalmHR boasts a stellar team with industry experience in Saudi Arabia, Dhabi, and Serbia.

CEO Shrems said that “people are the single biggest influence on the success of any business, yet over 75% of companies do not use a digital solution to manage them.”

“Our ambition,” he lays out, “is to become the category-leading work experience platform for companies in the Middle East – getting people engaged and working as efficiently as possible.”

Abdulmajeed Alsukhan, CEO of the fintech startup Tamara, one of PalmHR’s clients, stated that “PalmHR has been a game-changer for us. We have never seen a software product adapt and improve as frequently as they do. In a competitive talent landscape, it is a great advantage for us to offer our team a solution that not only handles all administrative HR tasks but helps build a better company culture overall.”

With their deep domain expertise in the HR space and innovation-driven vision, PalmHR hopes to transform the working experience through its platform.