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- HR Path
HR Path Funding, Investors & Competitors
HR Path has raised $392M across 5 funding rounds, most recently a undisclosed-stage round in July 2026.
Last HR Path funding round
Undisclosed stage
Amount undisclosed · Jul 2026
Cumulative funding HR Path raised
$392M
across 5 funding rounds
Key investors in HR Path
Ardian
Andera Partners
Societe Generale Capital Partners
BNP Paribas
Société Générale
Activa Capital
LCL
Caisse d'Epargne Ile-de-France
About HR Path
HR Path is a global consultancy with over 500 consultants across North America, Europe, and the Middle East, dedicated to HR systems integration, outsourcing, and business consulting. As an authorized reseller of SAP SuccessFactors, HR Access, Oracle HCM, Cegid, Sage, and Talentsoft in France, it also offers proprietary tools like BiHRdy for business intelligence, Pandore for HR, payroll, and time management, and Geef for talent management. Serving CAC 40 companies, SMEs, mid-sized firms, and public sector entities via hr-path.com.
Founded
2001
HQ
Website
Status
Privately held
Customer focus
B2B & B2G
Revenue model
Services, Subscription
HR Path Funding History
HR Path has raised a total of $392M across 5 funding rounds.
HR Path's first fundraising round was a $6M Series A in June 2015. The most recent completed round was a undisclosed-stage round in July 2026.
HR Path funding rounds
| Date | Stage | Investors | Raised | Deal Summary |
|---|---|---|---|---|
| Jul 2026 | Undisclosed stage | Ardian (lead) | - | - |
| May 2022 | Undisclosed stage | Andera Partners (lead); Societe Generale Capital Partners (lead); Banque Palatine; Crédit Agricole Private Bank; BNP Paribas; LCL; Caisse d'Epargne Ile-de-France | $242M | - |
| Apr 2019 | Undisclosed stage | Andera Partners (lead) | $112M | HR Path is a French technology company specializing in the full spectrum of human resources solutions, including HR strategy consulting (Advise), software solution implementation (Implement), and payroll outsourcing (Run). The company operates globally across 19 countries and positions itself as a digital transformation leader in the HR function. On April 3, 2019, HR Path announced a historic €100 million investment from Andera Partners, marking an unprecedented fundraising event for a French HR company. This round was supported by a banking pool including Société Générale, BNP Paribas, Crédit Agricole Ile-de-France, and Banque Palatine. The investment was structured to fuel rapid expansion into international markets and strengthen the company's position as a key player in the global HR industry. With both organic and external growth strategies, HR Path set ambitious targets at the time of the 2019 funding: reaching €130 million in turnover by 2020 and €240 million within five years, while increasing its workforce and becoming the world leader in global HR solutions. Andera Partners, which had been following the company's growth trajectory for several years, was impressed by the solid entrepreneurial partnership and expansion performance and committed to supporting the company's change of scale. The investment was part of HR Path's broader growth journey, following prior fundraising rounds of €10 million in June 2015 and €30 million in March 2017. These earlier rounds had enabled the company to establish itself as a major European player in HR services and digital HR transformation. The 2019 round represented a significant acceleration in the company's growth ambitions and international expansion strategy. |
| Apr 2017 | Undisclosed stage | Ardian; Societe Generale Capital Partners; Activa Capital | $33M | HR Path is a French HR solutions specialist founded in 2001, offering a comprehensive 'one-stop shop' for HR needs including consulting (Advise), implementation of HR systems like SAP, SuccessFactors, Oracle HCM, and payroll outsourcing (Run). It develops proprietary software such as payroll and time management solution Pandore, business decision-making tool BiHRdy, and talent management system Geef, while acting as an authorized reseller for major HR software providers. In April 2017, HR Path raised €30 million from Activa Capital, Ardian, and Société Générale Capital Partenaires to fuel international expansion across 13 countries, acquisitions in France, staff recruitment, and investments. At the time of the 2017 round, HR Path employed 500 consultants and generated more than €60 million in annual revenue, underscoring its steady growth and expert positioning across the HR value chain as both IT consultancy and service provider. The funding supported consolidation of its global leadership in HR solutions, capitalizing on digital transformation trends in HRIS. Post-2017, HR Path continued aggressive expansion through acquisitions like ICRH, Sages Software, Cleveor, Human Start, Cleversys, Cinethic, Strator RH, Virtualia, Cetis, Avenue HR in Canada, KWP France, DDG, Go-cloud Solutions, Exaserv, Whitaker Taylor, PlusHR, Consult Recruitment, Extalys, and Integra, strengthening its presence in Europe, Latin America, the UK, Vietnam, Spain, and beyond. It raised additional €100 million in 2018 from Andera Partners and banks, entered France's Next 40 scale-up list in 2019, and secured a record €500 million financing from Ardian in July 2024 to accelerate international growth in the US, Canada, Germany, Nordics, and Australia, reaching €215 million turnover, 1,800 employees, and 3,000 clients across 22 countries. |
| Jun 2015 | Series A | Ardian (lead); Société Générale (lead) | $6M | HR Path is a specialized HR consulting and services provider founded in France. The company offers a comprehensive "one-stop shop" model across three business lines: Advise (HR strategy consulting), Implement (HR software systems implementation), and Run (payroll outsourcing). In June 2015, HR Path closed its Series A financing round with €5 million in new investment led by Ardian and Société Générale Capital Partenaires, positioning these investors to support the company's early-stage growth in the Human Resources Information System (HRIS) market. At the time of this round, the company was establishing its foundation as a specialized provider serving SMEs and larger organizations across multiple countries. |
Who has invested in HR Path?
10 investors have backed HR Path across its funding rounds, including Ardian, Andera Partners, Societe Generale Capital Partners, BNP Paribas, Société Générale and Activa Capital.
Lead investors include Ardian, Andera Partners, Societe Generale Capital Partners and Société Générale.
HR Path Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 3 | Lead | Jun 2015 | ||
| 2 | Lead | Apr 2017 | ||
| 2 | Lead | Apr 2019 | ||
| 1 | Lead | Jun 2015 | ||
| 1 | Participant | May 2022 | ||
| 1 | Participant | May 2022 | ||
| 1 | Participant | May 2022 | ||
| 1 | Participant | Apr 2017 | ||
This data is available for Pro users. Sign up to see all 10 HR Path investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialAcquisitions by HR Path
HR Path has acquired 37 companies to date.
Last acquisition by HR Path was on September 9th 2026. HR Path acquired tts digital HR experts for undisclosed valuation.
Latest Acquisitions by HR Path
| Description | tts digital HR experts is a consulting practice focused on SAP human capital management platforms, delivering implementation and ongoing application management. | Grupo PHR is a systems integrator and SAP partner operating across Latin America (Mexico, Chile, Colombia, Peru, Argentina). The firm implements SAP Human Capital Management and SuccessFactors to modernize HR operations, talent acquisition, workforce planning, and performance analytics for mid-market and enterprise clients. | TEC360 People is a Mexican company that supplies HR technology and talent solutions to clients in manufacturing, financial services, and food and agriculture. | GDT Brasil is a Brazilian management and strategy consulting firm that works on human capital through strategy execution, change management, corporate education, and people development. The firm connects behavior, culture, leadership, and performance to drive business results for organizations. | |
| HQ Country | |||||
| HQ City | - | Mexico City | - | Barrero | |
| Deal Date | 9 Sep 2026 | 18 Aug 2026 | 18 May 2026 | 15 Apr 2026 | |
| Valuation | undisclosed | undisclosed | undisclosed | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
This data is available for Pro users. Sign up to see all HR Path acquisitions and their M&A valuation multiples. Start Free Trial | |||||
HR Path Competitors
HR Path competitors include listed companies like SAP and Workday, and private ones like Phenom, Gem, Fountain and Sense.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | - | - | $1.3B | - | ||
| Private | - | - | $1.2B | - | ||
| Private | - | - | $950M | - | ||
| Private | - | - | $500M | - | ||
| Publicly listed | $42B | $13B | $248B | 5.4x | ||
| Publicly listed | $9.6B | $1.2B | $48B | 4.7x |
HR Path Public Comps
HR Path is still privately-owned, but its public comps include SAP, Accenture, Workday, Paychex, HCLTech, Experian, Cognizant, Verisk Analytics, Capgemini and Equifax.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $42B | $13B | 5.8x | 5.4x | 18.4x | 17.1x | |||
| $70B | $12B | 1.7x | 1.6x | 10.1x | 8.4x | |||
| $9.6B | $1.2B | 5.1x | 4.7x | 42.0x | 14.2x | |||
| $6.5B | $3B | 6.9x | 6.8x | 15.1x | 14.5x | |||
| $14B | $2.7B | 2.4x | 2.3x | 12.2x | 11.1x | |||
| $8.4B | $3B | 4.5x | 4.4x | 12.7x | 12.1x | |||
| $21B | $4B | 1.4x | 1.3x | 7.3x | 7.2x | |||
| $3.1B | $1.7B | 8.8x | 8.5x | 16.2x | 15.1x | |||
This data is available for Pro users. Sign up to see all HR Path competitors and their valuation data. Start Free Trial | ||||||||
Common questions about HR Path
| When was HR Path founded? | HR Path was founded in 2001. |
| Where is HR Path headquartered? | HR Path is headquartered in Paris, France. |
| Is HR Path publicly listed? | No, HR Path is a private, VC-backed company. |
| How much funding has HR Path raised? | HR Path has raised $392M across 5 funding rounds. |
| What was HR Path's last funding round? | HR Path's last funding round was a undisclosed-stage round in July 2026, led by Ardian. |
| Who are HR Path's investors? | HR Path's investors include Ardian, Societe Generale Capital Partners, Andera Partners, Société Générale, Banque Palatine, Crédit Agricole Private Bank, BNP Paribas, Activa Capital, LCL and Caisse d'Epargne Ile-de-France. |
| Which companies are comparable to HR Path? | Companies comparable to HR Path include Phenom, Gem, Fountain, Sense, SAP and Workday. |
| How many companies has HR Path acquired? | HR Path has acquired 37 companies, including tts digital HR experts, Grupo PHR, TEC360 People, GDT Brasil and Covalence Consulting. |
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