Lucca, an HR software provider for small to medium-sized businesses, has secured 65 million in euros in Series A funding. The investor was One Peak.
Paris, March 23rd, 2022, – Lucca, a leading HR software provider for SMBs, today announces a Series A funding round of €65 million from One Peak. The investment will be used to support Lucca in broadening its product portfolio and expanding internationally, with a target of reaching revenues in excess of €100 million by 2025.
With more than 5,000 customers and over one million end users, Lucca is one of the leading players in the European HR software market for SMBs. Self-financed since its creation in 2002, Lucca has recently experienced a very strong acceleration of its growth driven by a category leading product and a rapid acceleration in the adoption of powerful tools to automate and centralise HR processes. At the end of 2021, Lucca’s annual recurring revenue (“ARR”) reached more than €20 million, up 50% compared to 2020.
Proceeds will be used to accelerate product innovation, with a focus on spend management, training and workforce planning, while expanding its international footprint beyond France, notably in Spain and Switzerland where it already has a local presence. Lucca plans to hire more than 400 employees over the next 3 years to help it achieve its target of reaching revenues in excess of €100 million by 2025.
Humbert de Liedekerke, Managing Partner of One Peak, said:
“The HR software market opportunity is enormous in Europe, and Lucca is incredibly well positioned to capitalize on it. Lucca has quickly become the HR platform of choice for more than 5,000 SMEs who understand that a powerful, agile HR tech suite is mission critical and a key driver of organizational success. We are delighted to be joining Lucca as its first institutional investor and look forward to releasing the full potential of Lucca together with Gilles and his team.”
Gilles Satgé, Founder CEO of Lucca, said:
“Our international competitors have raised large funding rounds. I want Lucca not only to keep up with them, but to be ahead. That’s why I decided to raise funds. We are delighted that we have a great new investor in One Peak, who share our strategic vision and backs the team of people who have created Lucca from a start-up to a market leading provider of HR software solutions for SMBs.”
Lucca, provider of HR software that is neither grey, ugly or sad.
Founded in 2002, Lucca is a provider of software solutions increasing employee efficiency and engagement. Lucca’s solutions address the main administrative and HR management issues: time and activity management, expense reports, personnel administration, annual reviews, as well as measuring well-being at work. More than 5,000 French and international SMEs, such as Deezer, Michel et Augustin, Square Habitat, Gaumont-Pathé, Mazars and Pernod Ricard, have chosen Lucca’s solutions to improve the efficiency and commitment of their employees… Lucca has over 300 employees in France, Spain and Switzerland. Its subscriptions grew by 49% in 2021. More information on: www.lucca-hr.com