Human resources software developer, HRLocker, has raised €2m in funding.

It is the first round closed by the company, which is based in Co Clare.

MACX3 Investments Ltd is the lead investor, alongside other entrepreneurs, families and private EIIS investors.

"We're constantly improving the platform to ensure it meets the requirements of our customers, whether that’s visualising data for reports or enabling more seamless flexible working," said chief executive, Adam Coleman.

"With this investment, we will continue to innovate HR solutions and bring the power of HRLocker to more businesses and to a wider international market."

Previously the business had been bootstrapped and the company said its revenues had grown by 139% prior to the funding round.

It has 45,000 daily users and 700 customers.

"When it comes to digital transformation, HR is playing catch up with other business functions, such as finance and marketing," said Hugh O’Donnell from MACX3 Investments Ltd.

"Since the massive shift to remote working in 2020, demand for effective, user-friendly employee management software solutions has exploded."

"As the first HR information system for growing companies, I firmly believe HRLocker has the team and the technology to be a global leader in this space."

HRLocker’s software as a service platform is designed for small and medium sized enterprises with 25-500 staff.

It helps automate processes and meet the needs of remote and flexible working.

The company’s own staff are distributed around the world.