Charles Russell Speechlys advises Puma Private Equity on its investment into HR Duo
Charles Russell Speechlys has advised longstanding client Puma Private Equity on its investment into HR Duo.
Based in Meath, HR Duo helps organisations automate their HR requirements. The platform is designed to act as an alternative for companies without a dedicated HR department and stays up to date to ensure continued HR compliance.
The Series A funding round was led by Puma Private Equity, alongside original seed investors Alan Merriman of Elkstone and Joe Hogan of Openet, raising a total of €4.5m. The funds will be used to boost HR Duo’s ambitious expansion plans, including growing headcount across its offices in Ireland, the UK and Romania, as well as to develop new products.
Puma Private Equity offers growth capital and expertise to best-in-class, ambitious businesses across the UK, irrespective of sector, and works in partnership with management to help businesses scale and create long-term value. It aims to deliver insight, expertise and a fresh perspective to the portfolio companies it partners with. Having invested in, and worked with, more than 35 organisations across a breadth of sectors from consumer e-commerce to fleet transport safety and influencer marketing, Puma Private Equity has deep insights and experience in scaling businesses for growth and where desired, successful sale and exit.
Puma Private Equity Investment Director Jonathan Wyles commented: “There is a significant opportunity for growth in the HR tech market and I would like to extend a huge thanks to David, Ashwin and the wider team for their support on this matter.”
Corporate Partner David Coates commented: “It is always a pleasure working with Puma Private Equity, and we look forward to supporting the team on future investments in 2023.”
The team was led by Corporate Partner David Coates and Senior Associate Ashwin Pillay, supported by Associate Ayman Shehata and Trainee Shennind Awat-Ranai. The wider team also included Briony Richards, Kelly Evans and Izzie Beddard (Employment), Jason Saiban and Ilona Bateson (Commercial), Sarah Keens (Property) and Anna Reynolds (Tax).