Irish HR tech company HR Duo has set up operations in the UK, marking the first in a series of planned international expansion moves as it expand its reach beyond the Irish market.
HR Duo, headquartered in Dunshaughlin in Co Meath, provides HR solutions to companies across a diverse range of industries, from retail to medical devices, hospitality and tech start-ups, with employees numbering from dozens to hundreds of people.
The expansion follows a €4.5m Series A funding round in January, which has enabled the company to invest in product development and expand its operations.
The company said the move into the UK market is a significant step for it, adding that it is just the start of its expansion plans.
HR Duo is also looking at offices in other markets worldwide, including the US and Australia, with a goal of becoming a global leader in HR technology.
Research conducted by the company has shown that 60% of British SMEs feel that most HR tech platforms are geared towards the needs of larger companies, with 77% saying they want one targeted towards the needs of SMEs.
Jerome Forde, CEO of HR Duo, said that with over 280,000 SMEs, the market potential in the UK is an incredible 24 times larger than Ireland, despite having a population 13 times our size.
"This presents an enormous untapped market for HR Duo, with our research showing that UK SMEs experience the same HR inefficiencies and outdated practices as their Irish counterparts," Mr Forde said.
"Based on the huge demand we are experiencing there, we will be projecting to grow our customer footprint and recurring revenues by 250% by the end of this year," he added.
