Senegalese HR-tech startup Socium has raised $5 million in seed funding to bolster its expansion within Francophone Africa.
The round was led by Breega and included participation from investors such as Partech, Orange Ventures, and Outlierz, among others. Raisers Partners acted as financial advisers for the deal.
This funding will enable Socium to strengthen its foothold as a pioneer in the region’s HR-tech market, where demand for tailored solutions is on the rise.
Founded in 2021 by Samba Lo and Serigne Seye, Socium is targeting the 21 countries in Francophone Africa, leveraging shared economic frameworks, regulations, and currency to deliver region-specific HR solutions.
Lo highlighted the untapped potential in this market, explaining that the startup’s focus on the region gives it a distinct advantage.
Socium’s platform addresses critical HR needs, including recruitment, payroll, and performance management. Initially conceived as a recruitment website, the startup evolved into a comprehensive HR solution after recognising the broader needs of its clients.
The platform automates routine tasks such as payroll calculations and CV scoring, freeing HR managers to focus on employee engagement and development.
In 2023, Socium launched a payroll engine designed to handle the complexities of payroll management across multiple countries in the region. The solution enables rapid deployment in new markets—within two weeks—offering a faster alternative to global HR platforms.
Added to this, it incorporates artificial intelligence to enhance recruitment processes, such as generating job descriptions and matching candidates to roles efficiently.
“We’re committed to helping HR teams streamline daily operations so they can focus on their most important asset: people,” said Lo.
The startup’s tools also aim to support businesses with tax and regulatory compliance by integrating with tax agencies to automate filings.
A Growing Client Base and Future Plans
Socium has already garnered over 100 active clients spanning 15 countries and 10 industries. The company’s ability to address local HR challenges has positioned it as a key player in Africa’s burgeoning HR-tech landscape. Lo and Seye, who met while studying at École Polytechnique, attribute their success to their shared vision and entrepreneurial drive.
The startup’s journey reflects Lo’s personal mission to contribute to Africa’s development. After a career in data science and investment banking, Lo joined a French SaaS company where he discovered his passion for entrepreneurship.
Reflecting on this transition, he said, “During the COVID-19 pandemic, I realised I wanted to create something meaningful for my community, and HR technology felt like the right path.”
A Competitive Market
Socium is among a growing number of HR-tech startups gaining traction in Africa. For instance, Kenya’s WorkPay recently raised $5 million in a Series A round led by Visa.
However, Socium’s unique focus on Francophone Africa gives it a strategic edge in a relatively underserved market.
With the new funding, Socium aims to expand its reach, enhance its product offerings, and become a leader in HR-tech across Francophone Africa.
