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Press Release

Sesame closes new investment round of €23M to continue its investment in AI and accelerate international expansion

Sesame closes new investment round of €23M to continue its investment in AI and accelerate international expansion

  • The new round is led by GP Bullhound with participation from Series A investor PSG.

  • The HR startup strengthens its leadership position in streamlining and optimizing HR department operations.

Valencia (08.05.2024). – Sesame, the HR software provider, has raised a new funding round of €23 million, consolidating its position as a leader in the sector and one of the solutions with the largest number of clients in Spain. The capital raise will allow the Valencia-based company to continue to invest in product development, launch new verticals, and accelerate its international expansion.

This investment marks a milestone in the company’s mission to streamline and optimize the work of HR and employee management departments. Sesame, with more than 8,000 clients, helps companies redefine the employee experience by centralizing all the functionality needed to manage talent in one platform.

With PSG and GP Bullhound’s capital investment, Sesame will continue investing in developing new software features and consolidate its position as one of the most highly valued platforms in the space. The company plans to launch new finance-related features, such as expense control, salary in advance and flexible remuneration, positioning Sesame as one of the most comprehensive solutions for HR management. “In Spain, most companies rely on multiple solutions to handle their HR and finance tasks. There is a growing need for an all-in-one solution that streamlines access and consolidates all the different tools into a single platform,’ says Albert Soriano, CEO of Sesame.

The new funds will also support Sesame’s investment in AI. “We have launched several AI functionalities that are enabling us to further improve our existing tools, such as people analytics, evaluations, recruitment or internal communication. Beyond improving the product’s functionality, we are committed to also apply AI to increase internal productivity and efficiency in our company,’ explains Albert Soriano.

With the €23 million funding round closed, Sesame intends to further invest in talent. This will enable the company to solidify its position in Spain, while strengthening its Latin American markets, particularly Mexico, where it has been operating since 2023. Additionally, Sesame will explore opportunities to enter other European countries.

Per Roman, Founder and Managing Partner at GP Bullhound, stated, “At GP Bullhound, we strategically invest in the AI-led software revolution, focusing on the sustained growth of software by backing category leaders in the later stages of venture. Sesame is a prime example of our focus, with its innovative HR technology set to revolutionise the way businesses worldwide interact with their employees, and we are excited to support their product and international expansion”.

Since its launch, Sesame has experienced rapid growth, positioning itself as a leading human resources management software in the sector. Sesame, has rapidly grown to serve over 8,000 customers, with its platform reaching more than 300,000 users. The platform empowers companies to digitise routine HR tasks, from time management and core HR administration to performance and engagement. It leverages artificial intelligence to gain deeper employee insights and craft bespoke work experiences.

The platform helps HR departments to redefine the employee experience and help build a successful corporate culture through different assessments, internal communication and upcoming features such as HR Fintech. Sesame’s solution includes many other functionalities such as holiday management, shift management, clocking, recruitment, document management, onboarding, training.

About Sesame

Sesame is HR software focused on redefining the employee experience. It digitises routine HR processes so that managers and HR professionals can put talent, career development and team wellbeing at the heart of growing their business and helping to build a successful corporate culture. The company currently has more than 8,000 customers and 300,000 users in more than 30 countries in Europe, the United States and Latin America.

About GP Bullhound

GP Bullhound is a leading technology investment and advisory firm, providing transaction and capital advisory services to some of the world's top entrepreneurs and founders. Founded in 1999 in London and Menlo Park, the firm now has 12 offices across Europe, the US and Asia. For more information, visit www.gpbullhound.com. GP Bullhound has partnered with more than 28 billion-dollar industry leaders such as Spotify, Klarna, Slack and EcoVadis.

About PSG Equity

PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed 140 companies and facilitated 500 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Madrid, Paris and Tel-Aviv. To learn more about PSG, visit www.psgequity.com.