Socium, a Senegalese HR-tech startup, has secured $5 million in seed funding to support its expansion across Francophone Africa.
Among other investors, Partech, Orange Ventures, and Outlierz participated in the round, which was led by Breega. Raisers Partners served as the deal’s financial advisors.
Socium, which was founded in 2021 by Samba Lo and Serigne Seye, aims to provide HR solutions that are specific to the 21 countries that make up Francophone Africa by utilising common economic frameworks, laws, and currencies.
Lo emphasised the market’s unrealised potential and clarified that the startup has a clear edge because of its regional focus.
The platform from Socium takes care of important HR requirements like performance monitoring, payroll, and hiring. The startup was first intended to be a recruitment website, but after realising the wider demands of its customers, it developed into a full-service HR solution.
The software allows HR managers to concentrate on employee engagement and growth by automating repetitive activities like payroll computations and CV rating.
Socium introduced a payroll engine in 2023 that was made to manage payroll across a number of the region’s countries. The solution provides a quicker substitute for international HR platforms by enabling quick deployment in new markets—within two weeks.
Furthermore, it uses artificial intelligence to improve hiring procedures, including creating job descriptions and effectively matching applicants to positions.
“We’re committed to helping HR teams streamline daily operations so they can focus on their most important asset: people,” said Lo.
An additional goal of the startup’s software is to help companies stay in compliance with all applicable regulations and taxes through integrating with relevant tax authorities to streamline the filing process.
With this funding, Socium will be able to solidify its position as a leader in the HR-tech sector in the region, where there is a growing need for customised solutions.
Read more on Tech Gist Africa:
Logidoo, a Senegalese logistics marketplace, has raised $1.5 million in funding
ProXAlys, a retail technology startup based in Senegal, secures a $500k funding round
