HR and payment platform company Employment Hero today announced a further $45 million in series D funding. Led by return investor SEEK, the money will be used to accelerate domestic and international growth, according to the company.
Previous backers, OneVentures and AirTree Ventures joined new investor, Salesforce Ventures in backing the local startup.
As part of its first wave of international roll out, Employment Hero launched localised versions of its signature people, payroll and benefits solution in New Zealand, the United Kingdom, Malaysia and Singapore last year.
Funds raised from the Series D will support Employment Hero’s continued growth in these markets and facilitate a significant push across Southeast Asia.
Lead investor SEEK is currently exploring ways to cross promote and bundle SEEK’s products and services with Employment Hero in Australia, New Zealand and Southeast Asia.
Employment Hero has over 6,000 SMEs, collectively managing over 250,000 employees, using its platform and has experienced a 100 per cent year-on-year increase in revenue since inception.
The company’s headcount increased by 50 per cent in 2020, bringing the team to more than 200 FTEs globally.
To coincide with Employment Hero’s international expansion, the company launched its ‘Global Teams’ service, a Professional Employer Organisation (PEO) solution, designed to power the remote work revolution in Australia and across the globe.
Integrating with the Employment Hero software platform, Global Teams gives SMEs a way to find, onboard and manage remote talent legally and seamlessly, while also offering an in-built recruitment tool that allows SMEs to easily create and publish open positions to over 1,700 job boards worldwide.
Ben Thompson, CEO and co-founder of Employment Hero, said: “We’ve never been in a better position to step up to the global playing field. Employment Hero has established itself as one of the best, all-in-one HR, payroll and benefits platforms in Australia, and we’ve proven market fit for SMEs. What better time to bring our powerful remote work solution to more of the world?”
“Employment complexity is a universal problem. No one starts a business to be an employer and most are ill-equipped to manage employment successfully. We understand this and have developed a platform with the tools to help. Our goal is to deliver these tools to every employer and employee on the planet and make them as great as they can be,” Mr Thompson continued.
“We know the last year has been incredibly difficult for employers everywhere, particularly as many were thrown into the deep end when it came to digital transformation and remote work. We recognise that remote employment is just another challenge for SMEs right now and we have the solution to help.
“This latest round of funding will allow us to continue building powerful features to simplify employment. It also enables us to reach more of the world. I started Employment Hero to help as many SMEs as possible and this is the next step in that journey,” he added.