Sprout Solutions secures $6M in fresh funds to expand beyond Metro Manila

Fresh from a new round of funding, payroll management solutions provider Sprout Solutions Phil. Inc. on Monday unveiled plans to expand outside of Metro Manila by 2020.

The company plans to take its presence to Cebu, Davao, and Clark, Solutions CEO and cofounder Patrick Gentry said in a press conference in Taguig City.

“Cebu, Davao, and Clark … Those are the next three steps. Those are next and beyond. Davao and Clark early next year. We already have an office in Cebu, so we’re expanding there,” he told reporters.

Sprout Solutions secured $6 million in financing through its Series A round which closed on September 26.

Among its investors are US investment firm Point72 Ventures, Dymon Asia, Next Billion Ventures (NBV), and Endeavor Catalyst.

Other investors include Kickstart Ventures, Beenext, and Wavemaker Partners.

“It will be going towards opex (operating expenses) and expansion. We are expanding throughout the provinces. Previously, we’ve been focused in Metro Manila. We’re spreading our range a lot more nationwide,” said Gentry.

The company provides software-as-a-service (SaaS) solutions through which it has introduced end-to-end processing and seamless automation across human resources and payroll processes.

This includes 201 file management, attendance tracking and management, and regulatory compliance, including 21 different payroll-related government forms automation.

Sprouts counts Shakey’s, Kickstart, Samsonite, BMW, Intellicate, and MyPhone as clients.

“I love that international investors, both regionally and around the world, are taking notice and backing our vision,” said Gentry.

“I'm really looking forward to the next five years in the Philippines. We’re going to see an amazing transformation in that timeframe,” he added. —VDS, GMA News