Philippines’ payroll software startup Sprout Solutions is heading to Silicon Valley
A HOMEGROWN Filipino software automation startup Sprout Solutions, which helps local business streamline attendance and payroll processes, will be heading to Silicon Valley’s Bay Area to take part in a four-month accelerator program.
The young company, launched in 2015, has experienced a massive surge in growth since it began, with over 2,000 companies using its payroll software. Sprout Solutions‘ main goal is to help SMEs grow and perform better with their back-end technology that address payroll, HR, and recruitment difficulties.
One of their most prominent products is the HR Hub, which consolidates all employee-monitoring activities into one platform, making it easier for business managers to keep track of progress and efficiency. Another product, Payroll Pie, automates complex payroll processes into a faster, more seamless tool.
Founders Patrick and Alexandria Gentry applied to three San Francisco-based accelerators at the end of 2015, and were interviewed by every single one. “We were honestly surprised to be invited to interview with all of them, and be one of the 3 percent of Y Combinator applicants to get flown to San Fran,” said Patrick, adding they had applied for the programs “on a whim”.
The duo chose to Acceleprise to fund them due to its “deep focus on enterprise SaaS (Software as a Service)”. Patrick said: “We wanted to go with an accelerator that could offer us the most relevant kind of mentorship, and we feel like Acceleprise really understands our field, including the challenges and opportunities that we are currently facing.”
— Innovate by Sprout (@sproutinnovate) April 20, 2016
Acceleprise, founded in Washington D.C. in 2012, is the first enterprise SaaS accelerator in the U.S. and is headed by angel investor and startup advisor, Michael Cardamone.
Sprout will be the first Filipino company to be backed by Acceleprise. “We felt like the team is in a unique position to execute on delivering the best product in the market and that the barriers to entry are relatively high for a payroll/HR product given the nuances of the local tax market,” said Cardamone.
“The team is very excited about the program and what it would mean for Sprout,” he continued. “We look forward to meeting and learning not just from our mentors, but also our fellow founders in the program.”
- Is the Carsome unicorn status in Malaysia overhyped amidst recent layoffs?
- Managing cybersecurity risks caused by employees can be as harmful as hacking in APAC
- Fintechs leading the change for AI adoption in risk and compliance
- Gaming to learn – the latest in AI education
- Manufacturers solve the puzzle to achieve both growth and profitability: Better ERP support