Headcount management platform TeamOhana raises $4 million in a seed funding round led by Sierra Ventures, with participation from Katalyst Ventures.
A series of angel investors and strategic operators including Akshay Kothari, COO at Notion; Samuel Adeyemo, Co-founder at Aurora Solar; Thejo Kote, Founder & CEO at Airbase; Brad Goldoor, Co-founder & Chief People Officer at Phenom participated in the round along with others.
The startup plans to utlise the funding for scaling its product and the go-to-market team. In fact, to fuel growth, a series of executive-level hires are being made including a Head of Marketing and a Head of Sales.
Alongside this funding round, TeamOhana also launched its real-time headcount analytics feature. The feature joins together previously siloed data from across systems into a single customizable dashboard to show current and forecasted headcount.
Founded in 2021 by Tushar Makhija and Baishampayan Ghose helps companies to plan and manage headcount. The platform helps company's personnel planning, empowering all teams to collaborate and execute strategic hiring plans on time and within budget.
“HR Tech startups only focus on payroll or talent acquisition however there is a need for strategic HR. There is very less product in the world today but it is very significant in today’s time,” said Ghose in an interaction with Moneycontrol
A huge amount of time is wasted in manually creating spreadsheets but there are problems there and there is no holistic data analysis that is why TeamOhana is helping solve this, he added.
With TeamOhana, finance and people leaders receive real-time visibility into existing hiring plans and headcount forecasts. They can make critical business decisions that affect product roadmaps, sales targets, and ultimately revenue projections, the firm said in a prepared statement on Thursday.
The company is planning to introduce products like employee lifecycle management and compensation management in its next phase of growth. TeamOhana has around 10 customers across the globe and it is planning to take that count to about 100 in the next year, co founder Ghose said.
TeamOhana’s workforce is remote-first and composed of a worldwide team that works globally across the US, Europe, Asia, and Africa.
"TeamOhana is a prime example of modern software that can enable business functions to become strategic rather than reactive. Their product provides companies with the necessary data and processes to make effective and data-driven decisions about their headcount,” said Vignesh Ravikumar, Partner at Sierra Ventures.
