Avanti offers payroll, HR, and workforce management solutions specifically built from the ground up for mid-sized Canadian businesses. Originally founded in 1980, Avanti was acquired by the current co-CEO Amin Lalani in 2016. Since the acquisition Avanti has bootstrapped its ARR growth by ~250% to over USD 10 million in 2021. As of February 2022, Avanti has a customer base of more than 300 Canadian companies, including Home Hardware, Princess Auto, and Porter Airlines, across over 20 different industries.
Avanti raised USD 25 million ( February 2022 ) in a mix of debt and equity led by Round13 Capital, in its first-ever venture financing. The fresh funds will be used to expand Avanti’s engineering and product teams to accelerate the development of its cloud platform, and transform its on-premise software into an HCM solution. The company plans to extend its total workforce of 110 employees to 130 by the end of this year and to 180 within three years.
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