Waterloo’s TribeHR raises $1 million in seed financing from Matrix Partners

Waterloo startup TribeHR, a social human resources platform for small and medium business, has just secured a $1 million round of seed financing from Matrix Partners.

Tribe intends to use the funds to drive product development and expand sales and marketing programs.

“We are thrilled to be working with David Skok and Matrix Partners as we enter our next phase of growth,” said Joseph Fung, co-founder and chief executive officer of TriberHR. “They have an incredible track record of building winning companies and the time is right for us to reinvest. With our new funds we will continue to build the first truly social, comprehensive HR management system and introduce it to an even larger community of SMB customers.”

 “TribeHR has developed a really elegant, modern solution for HR in small and medium business,” said David Skok, partner at Matrix Partners, who will join the company as an advisor. “Unlike HR solutions designed for enterprise customers, its social features help reinforce the culture of an individual company and optimize the performance of each employee. This platform is exactly what the Facebook generation expects to find in today’s workplace.”

Tribe was founded in 2009 and has secondary offices in Boston.

Matrix Partners is a venture capital firm three decades old with offices from Palo Alto and New York to Beijing and Shanghai.

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