Socium, an integrated HR management platform based in French-speaking Africa, has secured a $5 million funding round to expand its services and become the go-to HR solution for mid-sized companies in the region.
This funding follows a previous $1.1 million round in August 2022, highlighting the company’s rapid growth despite a broader slowdown in African technology funding.
The latest investment was led by Breega through its Africa Seed Fund, with participation from international investors including Partech, Chui Ventures, Orange Digital Ventures, Sonatel, Outlierz Ventures, Super Capital and DNA. Prominent African business angels such as Mosaddeq Bali (Founder of Azalai Group), Hassan Borji (Founder of Jammu), and Babakar Seck (Founder of Askia Investment Partners) also contributed to this round, underscoring the growing support for local startups.
Simplifying human resource management in French-speaking Africa
Founded in 2021 by École Polytechnique graduates Samba Lo and Serigne Seye, Socium addresses the critical need for digital HR solutions in French-speaking Africa, where more than 90% of medium-sized companies lack an HR management system. This gap often leads to time-consuming manual processes and increased operational, legal and financial risks.
Initially launched with a recruitment module, Socium has expanded its offerings to provide a comprehensive HR management platform. The platform now includes recruitment, talent management, performance management and payroll processing, and is specifically designed to meet the unique needs of African businesses.
“The adoption of the solution in more than 15 African countries demonstrates its commitment to meeting the needs of local businesses by improving HR processes,” said Ben Marill, co-founder and CEO of Breega. “We are pleased to continue supporting Socium and its distinguished founders, Samba and Serigne, in their mission to become the leading HR solutions for mid-sized companies in French-speaking Africa.”
Growing market and future plans
The potential market for HR software in French-speaking Africa is estimated at €8.5 billion, targeting companies with more than 50 employees. This market is expected to grow at a rate of 10-12% per year until 2030. Socium already supports more than 100 clients in more than 10 industries and 15 countries, including prominent names such as Auchan, Orange, EY and L’Archer. DC, WDGMO.
With the new financing, Sosome plans to strengthen its operations in key markets such as Senegal, Côte d’Ivoire and Cameroon, while accelerating growth in the Democratic Republic of the Congo and Morocco. The company will also enhance its platform with advanced AI features, such as payroll discrepancy detection, and integration with public services to automate tax and regulatory filings.
“This investment in Sosium reflects our commitment to sustainable development and innovation in Africa,” commented business owner and founder of Azalai Hotels, Mosaddeq Bali. “By supporting this innovative HR solution, we are helping to transform the future of work, nurturing local talent, and enhancing the competitiveness of African businesses.”