A venture capital investor has led a $5 million equity funding round for Socium, a Senegal-based HR tech company, to scale its all-in-one HR platform across Francophone Africa and expand into new markets.
| Deal Aspect | Details |
| Investor | Breega |
| Investing Fund | N/A |
| Investee Company | Socium |
| Sector | Technology, HR Tech |
| Investee Company Headquarters | Senegal |
| Investment Amount | $5 million |
| Deal Type | Equity |
| Deal Structure | Equity Funding |
| Core Offering | Socium provides an all-in-one HR platform designed specifically for African companies, offering recruitment, talent administration, performance management, and payroll processing. |
| Key Features | – Recruitment tools |
| – Talent administration | |
| – Performance management | |
| – Payroll processing | |
| – AI-driven innovations to simplify payroll and compliance | |
| Additional Benefits | – Tailored to the unique needs of African businesses |
| – Addresses inefficiencies and risks in mid-sized companies relying on manual HR processes | |
| Quote by Co-founder | N/A |
| Platform Capabilities | An all-in-one HR platform built to streamline HR processes, enabling companies to operate more efficiently and stay compliant with regulations. |
| Partnerships | N/A |
| Market Need | – Over 90% of mid-sized companies in Francophone Africa lack efficient HR solutions. |
| – Manual processes expose businesses to financial, legal, and operational risks. | |
| Investor’s View | “We’re proud to lead Socium’s $5M raise and reaffirm our commitment to scaling impactful startups for the long term.” – Breega |
| Key People in Investment | – Socium: Samba LO (Co-founder and CEO), Serigne Seye (Co-founder) |
| Expansion Plans | – Strengthen presence in Senegal, Côte d’Ivoire, and Cameroon |
| – Expand into new markets: Democratic Republic of Congo and Morocco | |
| Innovations | Accelerate development of AI-driven tools for payroll simplification and compliance. |
| Client Base | Over 100 clients and growing |
Courtesy of Deal Book Africa
