Jet HR, a start-up founded by Marco Ogliengo and Francesco Scalambrino to cut red tape related to work and employee management, announces that it has closed a new investment round from 25 million. The transaction sees the American VC fund Base10 as lead investor, investing for the first time in Italy . BASE10 founder Adeyemi Ajao will join the Jet HR board.
The transaction brings the company’s total funding to 41.7 million euros and, due to the timing and quality of the investors, represents further confirmation of how much the Jet HR solution responds to a strong market need, resolving the frustration of companies in their daily confrontation with bureaucracy. The previous €12 million round took place in September 2024 with the entry of an international investor, the German fund Picus Capital, for which it was also the debut in an operation involving an Italian company, and before that there was the €4.7 million pre-seed operation, June 2023, with lead investor Italian Founders Fund.
In 2024, Jet HR recorded six times growth in annual recurring revenue (ARR), already serving 700 companies, which is set to double in the next six months, with a team of 110 people.
Most of the new capital raised will be used to upgrade the existing platform and develop new modules to further reduce bureaucracy in the company, and become the operating system for Italian SMEs for the complete management of employees and labour relations.
In order to bring the many innovations in the pipeline to market quickly, the size of the team is expected to double over the next 18 months. In the first 24 months, Jet HR simplified its customers’ payroll process (recruitment, payroll, labour consulting), with high customer satisfaction rates. On customer feedback, it launched four new modules: Health and Safety, for managing compulsory courses; External Professionals, to contract, manage and pay VAT and casual employees; Shifts, for more complex work organisation; and Time Clock, to have employees clock in and out from smartphones. In parallel, Jet Studio, the solution designed to increase the productivity of labour consultants, was also released. It is on this basis that management and investors have raised the level of ambition, investing EUR 25 million to develop more than 10 new modules in the areas of human resources, finance and compliance.
Marco Ogliengo, co-founder and CEO, (pictured with co-founder and CPO Francesco Scalambrino) says in a note: ‘The market response continues to exceed our expectations: in the last six months we have added as many customers as in the first 18, and we are accelerating. With this investment we will launch many new products, bringing the positive impact we have proven we can generate to so many other areas of bureaucracy that plagues businesses. The idea of tackling this new phase with Base10 at our side is nothing short of thrilling. We are excited and grateful that Adeyemi Ajao will bring his incredible experience to our board. His history as a founder of several successful companies, and as an investor in some of the world’s largest scale ups of the last decade, such as Stripe and Nubank, which have established themselves in very complex markets by dominating them, will be important in helping us drive Jet HR’s growth. His confidence and presence will exponentially increase our chances of building a very large company”.
Founded by Adeyemi Ajao and TJ Nahigian, Base10 is a San Francisco-based venture capital fund with a strong focus on projects with a high impact on the real economy. An approach derived from the founders’ entrepreneurial experience. Adeyemi Ajao is also known for co-founding Tuenti (the Spanish Facebook, acquired by Telefonica) and Identified (acquired by Workday). He was also part of the founding teams of Cabify and Jobandtalent.
Ajao says: “We are happy to have concluded our first operation in Italy and look forward to many more. We found in Jet HR all the elements that drive our vision. We believe that technology should be at the service of people, not replace them, and we choose to invest in companies that innovate to automate and improve key sectors of the real economy, such as logistics, healthcare, retail, and of course the world of work, addressing challenges that affect the daily lives of millions of people. What Jet HR has achieved so far is already relevant and we saw in the founders and the team the potential to realise their ambitions for future growth and development and to generate a concrete positive impact for the Italian business fabric’.
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