- intelliHR is attempting to raise $3 million through the issue of 40 million shares.
- The raised funds are expected to improve research and development, product enhancement, marketing and sales investment and working capital
- The funds will be raised through two tranches. The second tranche is still subject to shareholder approval
intelliHR, a human resources program developer, is attempting to raise $3 million through the issue of 40 million shares at the price of $0.075 each. The funds are expected to be used for research and development, product enhancement, marketing and sales investment and working capital.
The program places all of a company’s “people data, HR automation, compliance and reporting in one place”. It is intended to engage employees and assist management through the display of key metrics.
Research and development will see the platform adjusted to improve user experience. A focus will be placed on adjusting analytics, natural language processing and reporting functionality.
A target of four new customers per salesperson each month has been implemented to increase sales and marketing. Sales reps will be active online to ensure growth opportunities are met.
The company aims to continue to gain more customers, exceeding its current 9,000 contracted users.
The funds will be raised through two tranches, with the first to be completed by 25 June 2019. The second tranche will be subject to shareholder approval and is set to be determined on 29 July this year.