Senegalese HR Startup Socium Raises $5M Seed Round

Socium, a Senegalese HR-tech startup, has secured $5 million in funding to expand its operations within Francophone Africa.

Breega led the round, which included participation from investors such as Partech, Orange Ventures, and Outlierz. Raisers Partners was the financial adviser for the deal.

With this funding, Socium will strengthen its foothold as a pioneer in the region’s human resource tech market, where demand for tailored solutions is growing.

Founded in 2021 by Samba Lo and Serigne Seye, Socium targets 21 countries in Francophone Africa. It leverages shared economic frameworks, regulations, and currency to deliver region-specific HR solutions.

Lo stated the untapped potential in this market, explaining that the startup’s focus on the region gives it a distinct advantage. “So for us, deploying within Francophone Africa is very interesting…Because we have the same economic community, we have very close regulations, and we have the same currency, in addition, the market for HR software is very huge. So for these reasons, we prefer to stay in Francophone Africa because I think we have so much to do here.”

Creating an Efficient HR platform

Socium enables its clients to recruit, pay, and manage talent. However, the startup never set out to offer that when it launched in 2021. Initially, it started as a recruitment website to enable companies to find talent and for people to find jobs. Then, they discovered that the HR world was enormous.

“Our customers started to ask us if we have some solution for payroll, other solution for time management, some solution for performance management. And you know, we decided to build a global HR platform to help HR to manage all their processes,” said Lo.

So, in 2023, they started building a solution that can “work everywhere from Morocco to Cameroon to Congo,” mentioning some of the countries the startup plans to expand into.

The company has built a payroll engine that considers the complexity of payroll calculations in the region. This enables the startup to launch in new countries faster than foreign-based solutions within two weeks.

Socium’s solution automates mundane tasks, lessening human resource and payroll workload. It uses AI to, for instance, easily score and match CVs to job offers and aid in writing job descriptions. This enables HR managers to focus on more critical roles, such as managing and supporting teams to meet their goals.

Growing Meaningful Impact in HR

The startup’s journey reflects Lo’s mission to contribute to Africa’s development. Lo and Seye connected while studying at École Polytechnique and attribute their success to their shared vision and entrepreneurial drive.

After a career in data science and investment banking, Lo joined a French SaaS company where he discovered his passion for entrepreneurship.

Reflecting on this transition, he said, “During the COVID-19 pandemic, I realized I wanted to create something meaningful for my community, and HR technology felt like the right path.”

Socium has already garnered over 100 active clients spanning 15 countries and 10 industries. The company’s ability to efficiently solve local HR challenges has positioned it as a key player in Africa’s burgeoning HR-tech landscape.

Socium’s Advantage in a Competitive Market

Socium is among a growing number of HR-tech startups emerging in Africa. For example, Kenya’s WorkPay recently raised $5 million in a Series A round led by Visa.

However, besides having the first-mover advantage, Socium’s unique focus on Francophone Africa gives it a strategic edge in a relatively underserved market.

With the new funding, Socium will expand its reach, enhance its product offerings, and become a leader in HR tech across Francophone Africa.

Main image: Socium co-founders Samba Lo and Serigne Seye. Image Credit: Socium

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