Malaysia’s HR tech startup Jibble Group has raised another $2.5 million, valuing the company at over $33 million, according to a statement.
Investors in the round included a UK-based family office, David Goldstein (previously iFlix’s Head of Asia) and Jibble Group CEO Asim Qureshi.
Most of the fresh funds will be spent on growing the product team and expanding its operations in the Philippines, the company said in the statement.
Launched in November 2017 by venture builder LaunchPad, Jibble operates a cloud-based time and attendance application for employers to manage their workforce. Its two key products are PayrollPanda and Jibble.
PayrollPanda claims to be Malaysia’s cloud payroll solution for SMEs, with more paying customers than all the other cloud payroll solutions in Malaysia combined.
Meanwhile, Jibble is a location-based time-tracking app with customers in over 50 countries.
“We have award-winning fast-growing low-churning products that customers love. But we’re now working on 2.0 versions of Jibble and PayrollPanda on a consolidated platform, which will take things to a new level – we are really excited, because it will be a game-changer,” said co-founder Toine Vaessen.
Last year, Jibble 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 joined the round.
The funding for Jibble comes a few weeks after another Malaysian HR platform Swingvy raised $7 million in a Series A round led by Samsung Ventures.
