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Funding
Veda raises EUR 17 million for market expansion and product development
Remote Work Infrastructure
May 16, 2024
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Remote Work Infrastructure

Remote Work Infrastructure

May 16, 2024

Veda raises EUR 17 million for market expansion and product development

Funding

  • Veda, a human resources and payroll software service based in Alsdorf, Germany, secured EUR 17 million (~USD 18 million) in a financing round led by CIBC Innovation Banking.

  • The company plans to use the funds to increase its market presence in the DACH region (Germany, Austria, and Switzerland), and extend to other international regions including Benelux, the UK, and the Nordics. The raised funds aim to support the company's strategic development, with an emphasis on payroll software and services.

  • Veda delivers a HR technology platform offering various tools tailored for mid-market business needs. The services encompass recruitment, personnel management, talent management, learning and development, and payroll serves ~1,200 customers with a staff count of 170 employees.

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