KKR, a leading global investment firm, and Teachers’ Venture
Growth (TVG), the late-stage venture and growth investment arm of
Ontario Teachers’ Pension Plan, today announced the signing of
definitive agreements under which KKR (on behalf of funds managed
by it) and TVG will jointly lead a US$140 million (JPY 21.4
billion) Series E fundraise of SmartHR (the ‘Company’), a leading
cloud-native human resources management platform in Japan, with
participation from existing shareholders.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20240630877753/en/
The investment will be used to accelerate SmartHR’s growth,
including through the development of new solutions, talent
acquisition, and organic and inorganic growth strategies.
Founded in 2013, SmartHR is a cloud-native human resources
management platform that provides a suite of tech-enabled human
resources management solutions, which are focused on employee
management and administration, growth, talent management, and
employee productivity. Through its comprehensive range of
solutions, SmartHR serves a diversified spectrum of businesses
including large enterprises and SMEs.
Mukul Chawla, Partner and Head of Growth Equity, Asia
Pacific, KKR, said, “As one of Japan’s leading human resource
Software as a Service (SaaS) platforms, SmartHR is playing a
critical role in enabling the country’s drive towards greater
workforce productivity, while leaning into accelerating
digitalization and cloud penetration. Through our technology growth
strategy, we look to support innovative, disruptive local champions
with our expertise, best practices and networks across KKR’s global
platform. SmartHR is an exceptional example of Japan’s new economy,
and we are delighted to work with the company’s management, board
and TVG in supporting SmartHR in the next phase of its growth.”
Olivia Steedman, Executive Managing Director and Global Head,
Teachers’ Venture Growth, said, “SmartHR has demonstrated
innovative ways to help companies of every size improve how they
manage and develop their workforces. As Japanese companies
increasingly transform their businesses with digital solutions,
SmartHR is well-positioned to support a variety of their labor
management needs. We look forward to working alongside KKR to help
accelerate SmartHR’s growth journey while also leveraging our
global expertise to find ways to be a value-adding partner.”
KKR makes its investment as part of its Asia Next Generation
Technology (Asia NGT) strategy. This marks KKR’s latest technology
investment in Japan, which has included: Yayoi, a financial and
accounting software provider for SMEs; NetStars, the operator of
Japan’s largest QR code payment gateway; and dataX, a marketing
SaaS platform. Other Asia NGT investments include: GrowSari, a B2B
e-commerce platform for SMEs in the Philippines; KiotViet, a SaaS
platform for SMEs in Vietnam; Privy, a digital identity provider in
Indonesia; MUSINSA, an online fashion platform in Korea; Lenskart,
an omni-channel eyewear retailer in India; and Advanced Navigation,
a developer of AI-powered robotics in Australia.
About KKR
KKR is a leading global investment firm that offers alternative
asset management as well as capital markets and insurance
solutions. KKR aims to generate attractive investment returns by
following a patient and disciplined investment approach, employing
world-class people, and supporting growth in its portfolio
companies and communities. KKR sponsors investment funds that
invest in private equity, credit and real assets and has strategic
partners that manage hedge funds. KKR’s insurance subsidiaries
offer retirement, life and reinsurance products under the
management of Global Atlantic Financial Group. References to KKR’s
investments may include the activities of its sponsored funds and
insurance subsidiaries. For additional information about KKR &
Co. Inc. (NYSE: KKR), please visit KKR’s website at www.kkr.com.
For additional information about Global Atlantic Financial Group,
please visit Global Atlantic Financial Group’s website at
www.globalatlantic.com.
About Teachers’ Venture Growth
Teachers’ Venture Growth (TVG) focuses on late-stage venture and
growth equity investments in cutting-edge technology companies
worldwide. We partner with founders with bold missions, looking to
expand their product offering, scale geographically, and become the
leaders in their markets. We bring long-term thinking and active
investing to help build better businesses and a better world. We
think globally and act locally through our direct presence across
Asia, North America and Europe.
TVG is part of the Ontario Teachers' Pension Plan Board (Ontario
Teachers'), a global investor with net assets of $247.5 billion as
at December 31, 2023. We invest in more than 50 countries in a
broad array of assets including public and private equities, fixed
income, credit, commodities, natural resources, infrastructure,
real estate and venture growth to deliver retirement income for
340,000 working members and pensioners.
Our more than 450 investment professionals operate in key
financial centres around the world and bring deep expertise in a
broad range of sectors and industries. We are a fully funded
defined benefit pension plan and have earned an annual total-fund
net return of 9.3% since the plan's founding in 1990. At Ontario
Teachers', we don't just invest to make a return, we invest to
shape a better future for the teachers we serve, the businesses we
back, and the world we live in.
For more information, visit otpp.com/teachersventuregrowth and
follow us on LinkedIn.
About SmartHR
SmartHR was established on January 23, 2013. In November 2015,
the Company launched a cloud-based HR and labor management software
"SmartHR". In addition to functions that enable paperless HR and
labor operations and improve operational efficiency, it offers
talent management features such as "performance evaluation" and
"placement simulation" that support organizational strategy using
accumulated data. It also provides a "recruitment management"
function that unifies recruitment activities and employee
registration.
Furthermore, SmartHR provides a wide range of services that meet
diverse customer needs through extensive integration with external
systems and the application store "SmartHR Plus." SmartHR aims to
eliminate social issues related to labor and support the
improvement of productivity for all workers, striving to create a
society where everyone can work in their own way.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240630877753/en/
Media
For KKR Asia Pacific Wei Jun Ong +65 6922 5813
WeiJun.Ong@kkr.com
For Teachers’ Venture Growth Dan Madge / James DeCosimo
media@otpp.com
KKR (NYSE:KKR)
Historical Stock Chart
Von Jun 2024 bis Jul 2024
KKR (NYSE:KKR)
Historical Stock Chart
Von Jul 2023 bis Jul 2024