SEOUL, May 3 (Korea Bizwire) — Swingvy, a Singapore-based human resource platform company, said Friday it has raised US$7 million from a group of investors led by South Korean tech giant Samsung’s venture capital investment arm.
Swingvy said it has raised the investment in a Series A round of funding led by Samsung Venture Investment Corp. and other investors, paving the way to expand its presence in Asia, starting with Taiwan.
A Series A round of financing is the first round of financing that a startup receives from a venture capital firm.
Launched in 2016, Swingvy provides an all-in-one HR, payroll and benefits platform. It serves over 5,000 companies and has offices in Kuala Lumpur, Singapore and Seoul.
The venture capital unit of the South Korean tech giant has mostly invested in promising startups in North America and Europe, and Swingvy is its first investment in Southeast Asia.