BREAKING — palm.hr closes $5M pre-Series A co-led by Speedinvest & RAED Ventures Riyadh-born HRMS built for Saudi & GCC labor law Native GOSI + Mudad + WPS compliance inside the product People · Time · Pay · Engagement in one platform Customers include Hala, Thmanyah, Mozn & Saudi Venture Capital Founded 2019 · HQ Riyadh, Saudi Arabia BREAKING — palm.hr closes $5M pre-Series A co-led by Speedinvest & RAED Ventures Riyadh-born HRMS built for Saudi & GCC labor law Native GOSI + Mudad + WPS compliance inside the product People · Time · Pay · Engagement in one platform Customers include Hala, Thmanyah, Mozn & Saudi Venture Capital Founded 2019 · HQ Riyadh, Saudi Arabia
Company Profile · HR Technology · MENA

palm.hr

The cloud HR and payroll platform born in Riyadh - built so companies across Saudi Arabia and the GCC can run people operations that are compliant with local law by default.

HRMS & PAYROLL SAUDI ARABIA · GCC B2B SAAS FOUNDED 2019
$5M PRE-SERIES A · ~40 EMPLOYEES · palmhr.net
palm.hr logo
THE MARK. palm.hr's logo, the face of a system of record for HR in the Gulf. The software behind it files payroll through WPS and talks to GOSI and Mudad so compliance happens where the work already does - inside the product. Riyadh, Saudi Arabia.
Share LinkedIn X / Twitter Facebook Instagram
The Dispatch

An HR system that starts with the rulebook

Most human-resources software is written for one country and sold everywhere else, its regional edges sanded down after the fact. palm.hr was built the other way around. Founded in Riyadh in 2019, it began with the part every imported product tends to bolt on last: compliance with Saudi and Gulf labor law. Payroll that files through the Wage Protection System. Contributions that reconcile with GOSI. Salary disbursement that runs through Mudad. End-of-service pay, calculated the way the law actually prescribes.

The pitch is unglamorous and, in the region, exactly the point. For a small or mid-sized company operating in Saudi Arabia or the wider GCC, HR administration is less a productivity problem than a regulatory one. A missed contribution or a mis-timed filing is not an inconvenience; it is exposure. palm.hr's founders - Richard Schrems, Christoph Czichna and Dragan Nikolic - built the platform around that reality, treating government integrations as the product rather than the footnotes.

What customers get is an all-in-one system that consolidates the sprawl of spreadsheets, WhatsApp approvals and manual filings that many regional SMEs still run on. Employee records, time and attendance, payroll and internal requests live in one place, on the web and in a mobile app. The company describes itself plainly as "the modern full-service all-in-one HR software built for SMEs in the Middle East" - a description that resists the temptation to oversell.

That restraint is part of the story. palm.hr is not trying to be a global platform that happens to work in Riyadh. It is trying to be the platform that understands Riyadh - and Jeddah, and Dubai, and the specific paperwork that a company there has to produce - better than anyone importing a template from abroad. In a market where the alternative is often a foreign giant or a spreadsheet, that focus is the wedge.

"An HRMS born in KSA to address the region's HR needs - from ensuring companies are compliant with Saudi law to erasing human error in calculating and paying salaries." — palm.hr, on why it exists
$0M
Pre-Series A raised
2019
Founded in Riyadh
~40
Employees
4
Core product suites
Products & Services

One platform, four jobs, plus a team to run it

palm.hr organizes the work of an HR department into a handful of connected modules. Each one removes a manual step; together they form a single record of who works at a company, when they worked, and what they were paid.

People

The employee record

Digital profiles, a searchable directory and org chart, document management, benefits, and onboarding/offboarding workflows - one source of truth for everyone on the payroll.

Time

Attendance & leave

Mobile check-in and check-out, absence and vacation tracking, custom work schedules, remote-work support and timesheet approvals - the raw data that feeds payroll.

Pay

Compliant payroll

Automated, WPS-compliant payroll with GOSI compliance, compensation management, expense claims, multi-currency and multi-country support, and end-of-service calculations.

Engagement

The company feed

Announcements, team celebrations, HR and time requests, custom approval workflows, and feedback and surveys - the softer side of keeping a workforce in sync.

Integrations

Wired into finance

Connectors to Zoho, QuickBooks, Xero, NetSuite, Odoo and Dynamics, regional tools like Qoyod, Wafeq and Tally, biometric hardware via ZKTeco and CAMS, plus GOSI and Mudad.

Concierge

Outsourced HR

For teams that want the software plus people to run it: certified professionals handling payroll, compliance, onboarding and government filings as a managed service.

The concierge option is a quiet admission about HR software in general - the tool alone rarely fixes a broken process. palm.hr's answer is to sell both the system and the people who operate it.
Who uses it & what it solves

Retiring the payroll spreadsheet

palm.hr's customers are small and mid-sized businesses through to growing enterprises operating in Saudi Arabia and the GCC. Named users include the ride-hailing brand Hala, the media company Thmanyah, the AI firm Mozn, and the Saudi Venture Capital Company, alongside names like Jeepy and Rabbit. The common thread is a company large enough to feel HR pain but not large enough to want a heavyweight global suite.

The problem palm.hr solves is specific: the fragile, error-prone process of running people operations by hand. The spreadsheet only one person can open. The salary calculation that has to account for allowances, deductions and end-of-service. The government filings that carry real penalties if they slip. By pulling attendance, compensation and compliance into one system, palm.hr aims to make that machinery invisible - and correct.

For an HR manager, the payoff is fewer manual reconciliations and a payroll run that files itself. For an employee, it is a self-service portal and a mobile app for requests, check-ins and payslips. For a founder, it is the confidence that the company is compliant without needing to become an expert in labor law.

palm.hr platform dashboard showing employee directory, vacation tracking and mobile app
THE PRODUCT. palm.hr's platform brings the employee directory, vacation tracking and payroll into a single dashboard, mirrored in a mobile app for check-ins and requests.
Funding & the numbers

Backed to build the region's system of record

Disclosed funding by round
2023 · Pre-Series A
$5.0M
2021 · Bridge
Undisclosed

2023 round co-led by Speedinvest and RAED Ventures, with Wamda Capital participating. 2021 bridge led by Nama Ventures. Bar for the 2021 round is illustrative - the amount was not disclosed.

  • Legal namePalmHR Holding Ltd
  • Founded2019
  • HeadquartersRiyadh, Saudi Arabia
  • Total raised$5M+ (disclosed)
  • Latest roundPre-Series A, Feb 2023
  • Team size~40
  • CategoryHR Tech / SaaS
  • Region servedSaudi Arabia & GCC

Sources: TechCrunch, Wamda, Zawya, RAED Ventures, Tracxn.

How it's different & where it fits

Compliance-first, in a crowded field

The HR software market palm.hr competes in is not empty. Global platforms like Workday, Rippling, Gusto, Deel, Factorial and Employment Hero all have GCC ambitions, and regional players such as Bayzat, ZenHR and Jisr address the same buyers. palm.hr's argument is not that it does more, but that it does the regional part natively - GOSI, Mudad, WPS, Emirates ID and end-of-service handled inside the product rather than approximated by a localization layer.

That is the wedge. A foreign suite can be configured for Saudi Arabia; palm.hr was designed for it. For an SME weighing an imported enterprise tool against a spreadsheet, a home-grown platform that already speaks the local systems - and offers a human team to run them - occupies a useful middle ground.

It also fits a larger regional moment. Saudi Arabia's push to digitize and formalize its private sector, and the GCC's broader startup boom, are creating exactly the kind of fast-growing SMEs that outgrow manual HR. palm.hr's $5M pre-Series A in 2023, co-led by Speedinvest and RAED Ventures, was a bet that these companies will increasingly want to build their systems of record locally rather than rent them from abroad.

GOSI Mudad WPS payroll Emirates ID End-of-service Multi-currency Mobile check-in
Timeline

From a Riyadh idea to a GCC platform

2019

palm.hr is founded

Richard Schrems, Christoph Czichna and Dragan Nikolic launch an HRMS built specifically for Saudi and GCC labor requirements.

2021

Bridge round led by Nama Ventures

An undisclosed bridge round from Nama Ventures and Saudi angel investors funds product development.

2022

Concierge and integrations expand

The company broadens beyond core software with outsourced HR services and a growing set of accounting and government integrations.

2023

$5M pre-Series A

A round co-led by Speedinvest and RAED Ventures, with Wamda Capital, funds expansion across the MENA region.

Frequently asked

The short answers

What is palm.hr?

palm.hr is a cloud-based, all-in-one HR and payroll platform built for small and mid-sized businesses in Saudi Arabia and the GCC, covering people data, time and attendance, WPS-compliant payroll and employee engagement.

Where is it based and when was it founded?

It was founded in 2019 and is headquartered in Riyadh, Saudi Arabia, with a presence in the UAE.

How is palm.hr different from global HR software?

It is built compliance-first for the region, with native integrations to Saudi government systems like GOSI and Mudad and support for WPS payroll and end-of-service calculations, rather than localizing a foreign product.

How much funding has it raised?

palm.hr raised a $5M pre-Series A in February 2023, co-led by Speedinvest and RAED Ventures with Wamda Capital participating, following an earlier bridge round led by Nama Ventures.

Who uses palm.hr?

SMEs through to enterprises across the GCC, including named customers such as Hala, Thmanyah, Mozn and Saudi Venture Capital Company.