Philippines: Future Now Ventures backs payroll, HR software firm Salarium

Salarium founder and CEO Judah Hirsch (in blue, standing) with the Salarium Team. (Visual from Salarium blog)

By Tomas S. Noda III

July 4, 2016

Future Now Ventures (FNV), a venture capital firm in the Philippines and Australia, invested an undisclosed amount of funding to payroll and human resource software company Salarium. 

Salarium founder and CEO Judah Hirsch said the deal with FNV was a bridge funding to prepare his company for its Series A round.

Founded in 2013, Salarium is an end-to-end payroll platform that provides a global cross-border payroll services to small and large businesses in the Philippines

“We will use the investment to grow and scale the business as we push in the Philippines and allow us to accelerate as we gear up for our Series A Round,” Hirsch said. “Our main focus is on the business that we are building to bring real value to our customers and partners.”

Hirsch noted Salarium’s improved traction, as it brought on hundreds of companies, processing over 1,000 of employees payroll every month.

Meanwhile, FNV CEO principal investor & advisor John Orrock, said he sees the Philippine market ready for Salarium’s new SAL Pay offering, which is more than just high-tech payroll service for small and medium-size business. Salarium’s SAL Pay Employee Account is designed as alternative to traditional bank payroll accounts, creating employee accounts in seconds.

Orrock said Salarium is the latest addition to his portfolio of investments in high potential cloud-based Software-as-a-Service (SaaS) business, namely: media CRM Advvy, journey management JESI, auto CRM AutoDeal, cloud subscription Billing Platform, Internet-of-Things integration platform Reekoh, employee performance firm My-CheckPoints, assessment & training platform CloudSwyft Solutions, and consulting firm Barhead Solutions, a Microsoft Cloud Partner.

Only recently, FNV made substantial amount of investments in Australia-based JESI, and financial tech (fintech) startup LoanSolutions, the largest network of lenders in the Philippines.

Also Read:

Philippines: Future Now Ventures funds online loan services startup LoanSolutions

Queensland govt, Future Now Ventures co-invest $1m in software firm Jesi

Exclusive: Philippines’ prolific investor Future Now Ventures backs five more tech startups

Philippine tech startup CloudSwyft raises $200k from Future Now Ventures

Exclusive: Philippine VC Future Now Ventures invests in IoT startup Reekoh

Philippines’ startup ecosystem faces several barriers, yet to take off: John Orrock, Future Now Ventures

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

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Following vacancies can be applied for (only in Singapore).   

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  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
APPLY NOW