EstBAN portfolio startup GuavaHR secures second investment round

Funding enables GuavaHR, whose product aims to digitalise HR processes among the deskless workforce, to open 3 new markets, develop a digital data exchange solution and support their growth in the upcoming 18 months. 

“The pandemic clearly demonstrated the importance of employee communication in business sustainability through both good times as well as bad, “said the lead investor of the round Ivo Remmelg. “In the current contactless world, GuavaHR gives companies a smart communication channel which reaches employees when and where they most need it. In EstBAN, we have the perfect opportunity to discover such gems and offer investors the option to be a part of the success,” Remmelg says.

Both former and new investors joined in on the opportunity: Silberauto AS and Sonny Aswaniwere among the several new investors joining in this round, whereas members of EstBAN, including their president Kristjan Raude, opted in for the second time.

The versatile background of GuavaHR investors give the team a lot to be excited about, Taavi Toots, the CEO and co-founder of GuavaHR says. “We have investors who have a background in our target industries as well as alumni from some highly successful start-ups, such as TransferWise. Many investors from our previous round have also joined in this time, which makes us really happy and shows that we are on the right track,” Toots says.

Information is said to be the second most important asset of a company – next to its employees. Despite that, many companies still leave most of their employees, often frontline workers, out of the loop. “GuavaHR works as a bridge between the organisation and their employees. Our digital solution keeps the employees informed and provides them with the resources they need while their employers receive instant feedback and input from their people. GuavaHR speeds up and lessens bureaucracy so there’s no need to run back and forth with filled applications or print-outs,” Toots explains.

For some angels, GuavaHR is one of the very first investments of such kind. Aare Tammemäewas drawn in by the fact that GuavaHR aims to solve an important real-world problem. “GuavaHR focuses on the deskless workers and solves internal communication and data exchange issues simply and efficiently while keeping the workers’ needs in mind,”Tammemäe says. “This gave me the confidence to invest in GuavaHR alongside many other great members of EstBAN,” the investor adds.

GuavaHR is an Estonian start-up focused on digitalising HR processes in companies with a deskless workforce. Active in four countries, its clients in Estonia include DPD, Ragn-Sells, Via 3L, Mayeri, Gustav Cafe and Thermory among many others. Last year, GuavaHR won the EstBAN Nordic Angel Program (NAP4) in competition with more than 100 start-ups which secured GuavaHR their very first investment round.