General Atlantic has made a US$96m strategic minority investment in SmartHR, marking the global growth equity firm’s first investment in Japan. The stake was acquired from Coral Capital, which will remain a committed minority shareholder.

SmartHR, founded in 2013, is one of Japan’s leading cloud-native HR and labour management platforms. Its software digitises employee records, payroll, attendance, onboarding, and government reporting, while offering talent-management tools such as performance reviews, employee surveys, and skills tracking.

General Atlantic will support SmartHR’s continued expansion through product development, strategic partnerships, targeted M&A, and enhancements to its customer engagement and go-to-market strategy. The firm brings deep sector expertise, with global HR tech investments including ATOSS Software, Gusto, Hibob, PayFit, and Staffbase.

SmartHR has held the number-one market share in Japan’s labour management cloud segment for seven consecutive years. Its platform supports businesses seeking to improve productivity and build more inclusive workplaces.

General Atlantic Co-President Martín Escobari commented: “SmartHR is dedicated to transforming how Japanese enterprises manage and support their people. The Company has prioritized execution and agility to develop a fully digital, highly scalable platform that addresses mission-critical HR needs for its customers.” He added that Japan is still early in cloud-software adoption, giving SmartHR significant long-term opportunity.

Coral Capital’s Founding Partner and CEO, James Riney, added: “This is a fantastic outcome for everyone involved. SmartHR is a company that’s very close to our hearts.” He noted Coral became the company’s largest investor in 2017 and said SmartHR “continues to compound at an extraordinary pace.”

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