Australian workforce management company, Humanforce, has raised $22.5 million from Silicon Valley venture capitalists. Accel-KKR, a technology focused private equity fund led the series A raise which will be used to expand Humanforce’s global expansion.
Humanforce is a SaaS workforce management platform that includes HR, time and attendance, rostering, employee availability and payroll data, with enterprise customers including Qantas, Hertz and Accor Hotels.
Originally a time and attendance tracker — still the company’s flagship product — Humanforce has expanded into a full contingent workforce management solution, taking advantage of the rise in gig-economy workers. The company was founded in 2002 and has grown to employ 144 people, servicing 1,500 enterprise clients globally and over 500,000 daily users.
Workforce managing director, Bruce Mackenzie, said the contingent workforce has been a “global revolution”.
“Today’s mobile worker presents multiple challenges for employers when it comes to tracking, planning and payment,” Mackenzie said in a statement announcing the funding.
“This complexity has meant that traditional tech platforms in our industry simply aren’t fit for purpose, and ultimately leave both employer and worker frustrated. Partnering with Accel-KKR, we’re excited to rapidly expand Humanforce’s capacity to revolutionise the contingent workforce.”
The series A funding will go towards expansion in foreign markets with a particular focus on North America, according to the company.
Investor Accell-KKR said it recognised Humanforce as a leader in the management of gig-economy workers.
“Managing this type of workforce presents unique challenges that legacy technology vendors aren’t built to solve,” said Accel-KKR principal Joe Porten, who will join the board of Humanforce.
“Humanforce is uniquely positioned to serve the gig-economy and capture a disproportionate share of the market as its solutions were purpose built with these challenges in mind. Our growth equity investment will help the company’s operations scale to take advantage of this opportunity.”
An earlier version of this article incorrectly overstated Humanforce’s number of employees.