MiHCM eyes US$ 5 mn ARR; sets transformational AI-powered future with MIA and Syntra AI

Audience Pix by Pradeep Pathirana 

By Nishel Fernando

Digital HR solutions provider MiHCM announced this week its ambitious plan to cross the US$ 5 million Annual Recurring Revenue (ARR) mark within the next 12 to 18 months.

At its flagship event, MiHCM Connect 2025 held in Colombo, CEO Harsha Purasinghe also unveiled a “transformational journey” with the planned launch of two new flagship AI platforms, MIA and Syntra AI, slated for January 2026.

The new AI products, which Purasinghe described as a “gigantic step forward” and potentially “Asia’s first” in an HR tech platform, are set to redefine the company’s product landscape. The new offerings were formally introduced by Tharuka Jayaratnam, MiHCM’s Specialist-Product Marketing, and are designed to evolve the company’s extensive work in AI-powered HR co-pilots and automation.

The US$ 5 million target is built on a foundation of rapid expansion since the company launched its cloud-native HR product in 2017. 

Purasinghe detailed the company’s journey, growing from zero customers and zero revenue to over 1,000 companies across 20 markets and more than US$ 4 million in ARR today.

“We have grown exponentially over the last 2-3 years,” Purasinghe said, noting that the company had to overcome initial challenges of moving legacy customers to the cloud. Today, over 60 percent of MiHCM’s revenue comes from overseas, primarily from Southeast Asia.

Harsha Purasinghe

Malaysia serves as the company’s largest international market, followed by Thailand, the Philippines, Cambodia, and Singapore. Purasinghe attributed this success to the platform’s deep “hyper-localization,” which goes beyond statutory compliance to include language localization for markets such as Thailand and Vietnam. This strategy, he noted, has allowed MiHCM to compete with and “beat... Tier 1 western products,” citing a recent win with a major oil and gas company in Malaysia.

MiHCM serves a diverse client base across Asia in banking, manufacturing, apparel, retail, and large diversified conglomerates.

Key clients highlighted at the event included Singapore-based Hour Glass, a luxury watch distributor, Thailand-based Thai President Foods (Mama Noodles), a major manufacturing company, Bank of Ceylon (currently undergoing a major cloud transition), Hydramani, Timex, and Maliban Group.

The platform now manages over 100,000 headcounts in Sri Lanka’s apparel industry alone.

In Maldives, its clientele includes Ooredoo, Bank of Maldives, and ADK Hospital.

The company’s technological focus has also earned it significant industry recognition, particularly from its strategic partner, Microsoft. MiHCM is a Microsoft Global Partner for Data & AI and Digital App Innovation. It was notably named Microsoft’s ISV Partner of the Year in Malaysia and has repeatedly won the same award for the Southeast Asia New Markets region.