Avanti

Overview
News
Remote Work Infrastructure?
Product stageSegments
Early
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Integrated HRM, Payroll, and Benefits Platforms
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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.

Key customers and partnerships

As of April 2024, Avanti had a customer base of more than 300 Canadian companies, including Home Hardware, Princess Auto, and Porter Airlines, across over 20 different industries.

Funding and financials

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 were to 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 planned to extend its total workforce of 110 employees (as of February 2022) to 130 by the end of 2022 and to 180 within three years.

HQ location:
Calgary AB CAN
Founded year:
1980
Employees:
51-100
IPO status:
Private
Total funding:
USD 19.5 mn
Last Funding:
USD 11.7 mn (Debt Financing; Feb 2022)
Last valuation:
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Company profile
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