Warp, an AI-native human capital management (HCM) platform, has closed a $60m Series B funding round led by Battery Ventures, with participation from Peak XV, Sound Ventures, and Y Combinator, bringing its total funding to $85m in under a year.
The round came together in just six days, ahead of the company’s original plan to fundraise in the autumn. Notable angel investors joining the round include Shopify CEO Tobi Lütke, former Stripe COO Claire Hughes Johnson, Dropbox co-founders Drew Houston and Arash Ferdowsi, former Coinbase CTO Balaji Srinivasan, former Eventbrite founder and CEO Kevin Hartz, former Cruise founder and CEO Kyle Vogt, and Replit founder Amjad Masad.
Warp positions itself as a challenger to legacy HCM systems such as Workday, arguing that the employee management category remains one of the last major areas of enterprise software yet to be rebuilt around artificial intelligence.
The platform covers payroll, HR, compliance, benefits, onboarding, offboarding, and IT operations across a single system, serving companies with between five and 5,000 employees. Rather than surfacing tasks for administrators to complete, Warp is designed to execute those tasks autonomously, registering accounts in new states, filing tax returns, and reconciling benefits elections directly into payroll without manual intervention.
The company reports that it doubled its annual recurring revenue in Q1 and is on course to process $2bn or more in payroll volume this year.
It has also signed enterprise customers with thousands of employees and launched two new products in quick succession: Warp Benefits Brokerage and Warp Fabric, its AI-native IT automation suite.
Warp says its average customer is growing five times faster than their peers while carrying a tenth of the typical HR and administrative overhead. The company has grown from 15 to more than 50 employees over the past six months, all based in New York, and expects to reach 200 within the next year.
Proceeds from the round will be directed towards developing deeper AI agents, expanding its tax and compliance infrastructure, broadening its product suite, and scaling customer support.
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