# Humaans Financial Model HRIS platform that serves as the foundation of a company's HR tech stack, acting as a central employee data layer with deep integrations across business tools. - Canonical: https://finamodel.com/startups/humaans - Excel download: https://finamodel.com/startup-models/humaans.xlsx - Category: Enterprise/Security - Model type: SaaS ARR / Valuation - Funding round: Series A - Funding: $15M - Founded: 2022 - Geography: Global - customers distributed across 25 countries, employees across 100+ regions & countries [DECK slide 3]. - Customer: B2B ## About the company Humaans is an HRIS platform that acts as a central employee-data layer for a company's wider HR technology stack. It integrates with business tools so people teams can manage core employee information and workflows from one foundation. The company sells subscription software across customer segments ranging from small businesses to organisations with more than 1,000 employees. Its materials distinguish ACV and billing behaviour by company size, making segmentation important to both pricing and retention analysis. The model uses a segmented SaaS ARR build, with customer additions, employees covered, ACV, billing cadence, expansion, and churn tracked by size band. Gross margin, sales efficiency, implementation and support costs, product spending, and headcount determine the forecasted path to scale. ## What's included - 5-year monthly revenue build with stage-appropriate growth assumptions - Full P&L, headcount plan, and operating-expense schedule - Cash-flow statement, runway, and burn-rate tracking - Valuation via exit multiple with a DCF cross-check - Returns analysis with MOIC and IRR - Unit economics including CAC, LTV, payback, and cohort retention ## Product & value proposition - Core product: cloud HRIS with employee directory, onboarding/offboarding workflows, document management, timesheets, org chart, and a rewards marketplace. - Key differentiator: API-first, integration-heavy design - connects into payroll (Pento), ATS (Ashby, Workable, Lever), contract management (ContractBook), identity/SSO (Google, Microsoft), and benefits/equity tools (Ledgy, Hofy, Assembly). - Long-term ambition: become the employee data platform / single source of truth connecting HR, IT, and Finance infrastructure globally. - Customers describe it as "Notion for the People team" - strong design, fast onboarding automation, transparency. ## Revenue model - Model: SaaS subscriptions billed per company (not per-seat pricing explicitly stated, but segmentation by employee count implies per-seat or tiered pricing). - Billing cadence: mix of monthly, annual, and multi-year prepaid contracts. - Revenue composition: x% monthly upfront / x% 1-year upfront / x% 2+ years upfront. - Average Contract Value (ACV) segmented by company size: - Segment 1: 1–75 employees → $x ACV - Segment 2: 75–250 employees → $x ACV - Segment 3: 250–1,000+ employees → $x ACV - Distribution: inbound (logo wall includes well-known tech scale-ups: Pleo, Juro, Fidel API, Birdie, Pento) + outbound sales motion being built. ## Traction & metrics All key metrics are redacted in the deck with "x" placeholders. The following structure is confirmed present but values are not disclosed: - ARR: $x (as of March 2022) - MoM ARR growth: ~x% for the past 12 months - NRR: ~x% for the past 6 months - Paying customers: x, distributed across 25 countries - Avg. Deal Sales Cycle: x days total; broken out by segment (x / x / x days) - Avg. Closing Rate: x% overall (x% in past 6 months); broken out by segment - Team size: 16 employees as of March 2022 - Projections (also redacted): Scale team from X to Y in 2022; Grow ARR to $x in 2022 and $y in 2023 ## Competition / moat - No explicit competitive slide in deck. - Implied moat: deep integration layer (12+ named integrations shipped in 12 months); API-first architecture; strong brand/NPS among European tech scale-ups; co-creation relationships with customers (Pleo quote). - Investor base includes operators from Lattice, Greenhouse, Slack, Figma, Notion - HR/tech infrastructure signal. ## Team & funding ask / use of funds - Team: 16 employees at time of deck (March 2022). No founder bios slide present. - Investors (Seed): Y Combinator, Stripe, Airbnb, Coinbase, Lachy Groom, Notion, Figma, Superhuman, Moonfire, Pento, Faculty, Frontline Ventures, Lattice, Greenhouse, Next Play Ventures. - Notable angels: Akshay Kothari (Notion COO), Jeff Weiner (ex-LinkedIn CEO), Claire Johnson (Stripe COO), David Clarke (ex-Workday CTO), Dylan Field (Figma CEO), Scott Belsky (ex-Benchmark / Adobe), Des Traynor (Intercom co-founder). - Series A use of funds (directional, no dollar amounts): scale outbound sales, build functional leadership, increase Product & Engineering headcount. --- ## Recommended financial model - **Archetype + why:** SaaS ARR subscription model. Revenue is recurring, contract-based, segmented by company size (1–75 / 75–250 / 250–1,000+ employees). NRR is tracked, billing cadence mix is disclosed, and ACV varies by segment - all hallmarks of a segmented SaaS ARR build. Not marketplace, not usage-based, not transactional. - **Forecast horizon & granularity:** Monthly for Year 1–2 (matches MoM growth tracking in deck and Series A hiring ramp), quarterly summary for Year 3. 3-year total horizon appropriate for Series A. - **Key drivers & assumptions:** | Driver | Value | | -- | -- | | Starting ARR | Redacted | | MoM ARR growth rate | Redacted (~x%) | | NRR (net revenue retention) | Redacted (~x%) | | Paying customer count at start | Redacted | | ACV - 1–75 employee segment | Redacted | | ACV - 75–250 employee segment | Redacted | | ACV - 250–1,000+ employee segment | Redacted | | Revenue mix: monthly / annual / multi-year | Redacted (x% / x% / x%) | | Avg. deal sales cycle by segment | Redacted | | Avg. closing rate by segment | Redacted | | Headcount at Series A close | 16 (March 2022) | | Target headcount by end 2022 | Redacted (X to Y) | | Target ARR end 2022 / end 2023 | Redacted ($x / $y) | - **Scenarios (Base / Bull / Bear - which variables flex):** - **Base:** MoM growth sustains at deck rate; NRR holds; headcount scales per plan; ACV stable by segment. - **Bull:** NRR expands (upsell to larger segments), ACV increases with upmarket motion, closing rate improves with outbound buildout. - **Bear:** Growth decelerates post-Series A hiring lag, longer sales cycles in 250–1,000+ segment, monthly billing mix increases (lower cash efficiency). - **Required sheets / outputs:** 1. Assumptions - all drivers in one place, segmented by customer tier 2. ARR Bridge - new ARR, expansion, contraction, churn, net new by month 3. Customer count - new logos by segment, churn, cumulative 4. Revenue - ARR schedule + recognised revenue (deferred for annual/multi-year prepay) 5. Headcount & OpEx - sales ramp, R&D, G&A; fully-loaded cost per hire 6. P&L - gross profit, operating expenses, EBITDA, burn 7. Cash flow - operating cash flow; impact of prepaid billings on working capital 8. Runway - cash balance, months of runway at current burn 9. Scenarios - Base / Bull / Bear toggle on key ARR growth and NRR inputs 10. KPI summary - ARR, NRR, customer count, ACV, magic number, CAC payback ## Frequently asked questions ### Is the Humaans financial model free? Yes. The Humaans model is a free Excel download with live formulas. ### Can I change the assumptions? Yes. The workbook is editable and its live formulas recalculate when assumptions change.