Manila-based start-up secures $1M in funding

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Among those which participated in the seed funding were 500Startups, LX Ventures, The Futura Corporation, 8capita Partners, Ryan Holmes (CEO of Hootsuite), Dan Martell (CEO of Clarity), Benjamin Joffe (aka Mr. Asia), and Christian Cotichini (Founder of MAKE Technologies). PayrollHero is a subscription-based cloud software platform that uses the employees face and GPS location as the metric for clocking in and out to ensure that the right employee is in the right place at the right time. The company enables transparency between employees and management around time, attendance, scheduling and payroll via attendance analytics. PayrollHero was created out of necessity from company founders Michael Stephenson and Stephen Jagger. They had set up a Philippine outsourcing company and could not find a suitable time, attendance, scheduling, and payroll solution so ended up building their own. After showing their internal system to other business owners in the Philippines who expressed similar dissatisfaction with the options available, they decided to look deeper into the Philippine market and the rest of Southeast Asia. ?There was a really big opportunity in Southeast Asia for a time, attendance, scheduling and payroll solution that was in the cloud and built for web and mobile. We set up PayrollHero and set out to become the market leader in this space,? said PayrollHero CEO Michael Stephenson. PayrollHero currently supports payroll for companies in the Philippines and plans to expand its payroll capabilities to other countries within Southeast Asia in the near future. The time, attendance, and scheduling solution works worldwide and currently has users in Canada, USA, Cambodia, Singapore, Thailand, Indonesia, Malaysia, and India. ?We wanted a payroll solution that was cloud based and built for the Philippine business environment, PayrollHero was exactly what we were looking for and took our payroll processing time for 700 employees from 16 days to 5 minutes,? said Walden Chu, CEO of The Coffee Bean & Tea Leaf Philippines. With this injection of funds, PayrollHero can add talent to its ?Adventure Engineering? team and continue to add new clients to its expanding client base. ?PayrollHero makes payroll sexy, and they make lots of money doing it! It?s one of those few cloud-based services that every business, from SMB?s to large enterprises, can and should use to increase productivity and save costs. The ability to scale PayrollHero is limited only by the number of businesses that want to improve employee attendance, scheduling, and payroll,? said George Kellerman, Venture Partner at 500 Startups. ]]>

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