Australian HR-startup Raises $30 Million at Funding Round

Source : coinquora.com

Market News

  • Australian HR-startup Chrono.Tech raised $30M during funding round.
  • Funding round led by multi-millionaire Mark Carnegie.
  • Chrono.Tech was established in 2016 by Sergei Sergienko.

Chrono.Tech has completed a $30 million funding round to develop innovative solutions for the human resource market, according to the official press release published on Thursday.

The funding round was led by multi-millionaire Mark Carnegie and a major European Family Office. Mark Carnegie’s participation in the round is of special note, considering that he co-founded a Play-to-Earn startup – Crypto Gaming United – together with Chrono.Tech founder Sergei Sergienko in 2021. Crypto Gaming United attracted over $5 million during its recent funding round.

The investment received by Chrono.Tech will allow the company to develop and expand its lineup of core products, focusing on employment and payment processing facilitation for businesses, employees, and freelancers. Among some of the other services slated for development by Chrono.Tech are crypto payroll services, workforce management tools, and recruitment and payment process facilitators that allow companies to make payments using cryptocurrencies.

Chrono.Tech was established in 2016 by Sergei Sergienko as a pioneering project that has capitalized on the growing demand for innovative payroll solutions in light of the evolution and gradual adoption of cryptocurrencies as means of payment. The growing accessibility and popularization of blockchain-based communication and payment gateway services have led to the rise in demand for decentralized labor management systems, giving companies like Chrono.Tech sufficient room for maneuver in the strive for taking up a share of the lucrative human resource market.

Commenting on the funding round, Sergienko has stated that the investment made by European participants and leading venture capitalists is testimony to the viability of the underlying business concept and the potential of future demand for innovative solutions in workflow management and payment processing.

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