The cloud services market has grown rapidly in recent years and a paradigm shift is currently taking place with software increasingly being deployed via the cloud. This shift is particularly prevalent in enterprise software, and HR software in particular, with 28% of global HR enterprise applications being delivered on a SaaS basis in 2017, which is forecast to increase significantly to 86% by 2022.
The funding will enable Hive to invest in its sales and marketing activities and create a number of new roles to deliver on its ambitious expansion plans, whilst continuing to roll out a number of exciting product enhancements.