Australian startup Employment Hero secures AUD 45 million in Series D funding

Syndey-based human resource platform Employment Hero announced early in March 2021 that it had raised AUD 45 million in its Series D funding round. The round was led by SEEK, along with participation from existing investors Airtree Ventures and One Ventures, and new investor Salesforce ventures. The current round brings the latest valuation of the company to around AUD 250 million.

Investors:

• SEEK is an Australian company founded in 1997 by Andrew Bassat, Matt Rockman and  Paul Bassat. It describes itself as a diverse group that runs with the sole motto of helping people live a more fulfilling and productive work-life, and hence helping organisations succeed. The company has an excellent portfolio of education, employment and volunteer business.

• Airtree Ventures on the other hand is an Australian venture capital firm founded in 2014 by Craig Blaire and Daniel Petre. It runs with the mission of supporting promising Australian and Kiwi technology entrepreneurs, who have the potential to make an impact on the society.

• One Ventures similarly is an Australian venture capital firm that invests primarily, among other things, in leading technology and healthcare companies. It was founded in 2006 with Arthur Brennand and Bruno Yoshimura as the founders.

The new round of investment, according to Employment Hero, would be utilized for global expansion by tapping into the markets of South Asia, New Zealand and the United Kingdom.

About Employment Hero:

Founded in May 2014 by Ben Thompson and Dave Tong, Employment Hero is an online cloud-based human resource platform. Its software provides a one-stop-solution to HR managers seeking to manage essential employee information, payroll, financial services, and employee benefits.

Established primarily to assist SME (Small and Medium Enterprises), Employment Hero currently serves around 6000 SMEs. Its software includes pre-built employment contracts that conform to the local rules and policies of a country/region.

What the CEO has to say:

“COVID-19 accelerated the adoption of employment management software by roughly five years. As a company, we knew we had to do whatever it took to help our clients and the wider small and medium-sized business community through COVID-19,”– Ben Thompson, CEO and co-founder of Employment Hero

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