Pento: Venture funding report as of December 2021
Pento is an online-based software platform that is helping basically startups, businesses, and company’s of a significant size run their monthly payroll mechanism seamlessly without having to do that through a manual or outsourced process. This helps company’s of almost any size to streamline their payroll services in the best way possible along with offering the employees to get access to a suite of payroll information in the most user-friendly method possible.
Pento, as a result of building an amazing product and solving a crucial problem for businesses across the board, seems to be growing at a good speed because of which it is also getting funded handsomely to keep the growth fueled for years to come.
Before we discuss the funding information of Pento, down below is a simple introduction about the startup.
Official intro about Pento: Pento provides a SaaS-based online platform intended to optimize payroll services. Its platform helps to automate payroll systems and offer complementary features to employees, such as user-friendly access to pay history and personal pay-related data, enabling small and medium-sized companies to find a digital way to automate salary processing, taxes and is fully connected to HMRC.
The company was founded in 2016 and is based in London, United Kingdom. End of the snippet.
Let’s have a look at the complete funding history of Pento up until now from its very first seed round to the latest one in the past week.
Down below is the complete breakdown of Pento’s funding details in the order of funding date, amount of money raised, and lead investor information.
- Date — October 23rd, 2017 Seed round with DKK4.5M raised from PreSeed Ventures as the lead investor.
- Date — September 10th, 2019 Seed round with $2.8M raised from Point Nine and Seedcamp as the lead investors.
- Date — May 19th, 2021 Series A round with €12.7M raised from General Catalyst as the lead investor.
- Date — December 7th, 2021 Series B round with $35M raised from Avid Ventures and Tiger Global Management as the lead investors.
As you can see, Pento has raised a total of $54 million U.S. dollars from a total of four different funding rounds with the latest one being from Tiger Global Management.
In my opinion, Pento seems to be empowering both small and medium-sized businesses to handle the process of Payroll in a user-friendly way by being more empathetic about the problem it is trying to solve. Also, the employees get access to their crucial set of data accordingly to make things even greater.
I love startups that try to empower businesses around the world because at the end of the day they are the only ones that actually turn out to be successful.
Kudos to Pento and the team on what they have achieved up until now and I wish them the best for all their future endeavors.
Thank you for reading this, and God Bless Everyone.
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