Jibble, a Malaysia-incorporated workforce management SaaS startup, has raised $1.3 million in funding, valuing the company at over $10 million (pre-money).
Saqib Qureshi, a property developer based in Canada and the brother of LaunchPad CEO Asim Qureshi, was a major participant in the round. Two family offices, one based in the UK and another in the Middle East, also participated in the funding round.
Launched in November 2017 by venture builder LaunchPad, Jibble operates a cloud-based time and attendance application for employers to manage their workforce.
The company said that through its software, employees can clock in and out using their web browser, Slack or mobile. It features a biometric attendance system through iPad; simple time tracking for web, mobile and Slack; reporting for client billing; and job costing, among others.
Since its inception, Jibble claims to have secured over 350 paying customers and said that number is growing by over 20 per cent month-on-month.
“The bigger plan is to become a workforce management solution for not just SMEs but enterprise,” said Jibble co-founder and CEO Fawad Akram.
Akram heads the Jibble team in London while the rest of the team is based in mainland Europe, Russia, and Southeast Asia. The company is incorporated in Malaysia, which is where LaunchPad is based.
In a statement, the company said it is preparing for another funding round in early- to mid-2019.
“This latest round means we can beef up the development team and have a significant sales and marketing push… We’ve clearly built a phenomenal product and so it’s time we put a lot more focus on getting out there,” said LaunchPad CEO and Jibble co-founder Asim Qureshi.