Black Owned Human Resources

Black Owned Human Resources Platform, Bambee, Raises $30 Million

Bambee, a company that makes Human Resources affordable for small to medium-sized businesses has announced a $30 million dollar Series C round, bringing its total funding to $65 million.

“Growing up in a family that ran a small business, I have a high level of empathy for small businesses in general,” said Jones, who founded Bambee in 2016. “Throughout my career working for different places, I noticed that a lot of small-business owners lacked infrastructure and were left to their own devices to solve complex problems, particularly those relating to employment. I’ve known for a long time about the aches and pains that exist in small businesses and wanted to offer them solutions they previously didn’t have access to.”

Bambee has been at the forefront of solving HR problems for small businesses since its inception. Bambee puts their customers HR on autopilot, starting with a dedicated HR manager and smart automation. Bambee helps each company navigate the complex regulatory world of compliance, HR policy, employee relations, and HR strategy — including internal investigations, hires, furloughs, and return to work procedures. The combination of a real HR manager coupled with an intelligent software platform gets Bambee customers to HR compliance, and helps keep them compliant.

The company grew by 100% in 2021 and is on track to double again in 2022. The company has nearly 10,000 active subscribers.

In this latest round, SoftBank joined QED, leader of both Series B and C rounds, and AlphaEdison, who led the Series A round. Key investments were also made by Mucker Capital, Ken Chenault (chairman and managing director, General Catalyst; and former CEO and chairman of American Express), Damian Maldonado (CEO and founder at American Financing and American Home Agent), and Gaingels (the LGBTQIA+/Allies investment syndicate).

With this new investment, Bambee plans to hire an additional 150 employees this year and expand its operations in Nashville, Tennessee.

Tony O. Lawson

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