Sydney-based HR software program developer Employment Hero raises $45M AUD Collection D at a $250M+ AUD valuation led by SEEK — Companies, and the tech platforms that assist their operations, needed to adapt rapidly to the pandemic. Ben Thompson, co-founder and chief government officer.
As part of its global expansion plans, Employment Hero, an Australian company, has raised $45 million AUD in funding
During the outbreak of the pandemic, businesses and the technology platforms that assist them in their daily operations had to adapt fast. In an interview with TechCrunch, Ben Thompson, co-founder and chief executive officer of HR platform Employment Hero, told the publication that the timeframe for adopting employment management software was accelerated by roughly five years due to COVID-19 as teams became more comfortable working remotely.
There has been a huge amount of news today about the Sydney, Australia-based company that has raised $45 million AUD (about $34.8 million) in Series D funding, bringing the overall valuation of the company to more than $250 million AUD ($193.4 million USD). It is currently planned to use the capital for expansion and growth in markets such as New Zealand, Southeast Asia, and the United Kingdom, among others.
There were also participations from OneVentures and AirTreeVentures, both of which are returning investors, as part of this round, which was led by SEEK, which runs job platforms all around the world. A new investor has also been added to Employment Hero’s portfolio in the form of Salesforce Ventures.
Designed for small and midsize businesses, Employment Hero provides features such as HR management, payroll management, and employee benefits management in one software application. At present, the company offers its services to over 6,000 SMEs that employ more than 250,000 individuals in total. There have been double as many full-time employees at Employment Hero as there were a year earlier, and the company has launched versions in New Zealand, the UK, Malaysia and Singapore in the last year. As a result of Series D, the company will be able to support growth in these markets, as well as entering new Southeast Asian countries, such as Thailand, Vietnam, Indonesia and the Philippines, through distribution.
An employment policy and a pre-built employment contract are included in the local versions of Employment Hero that comply with local laws and regulations. It has provided research on recruitment and employment trends in Malaysia and Singapore, Thompson said, and in Singapore, it has gathered all government supports related to COVID into a single fact sheet that contains all the information that is needed.
Aside from that, Employment Hero has also renewed its partnership with the job board SEEK, meaning that the platform now includes SEEK job openings in Southeast Asia.
Approximately 75% of the company’s customer base upgraded their subscriptions in order to take advantage of tools like remote work management, compliance, and employee wellness services delivered by Employment Hero.
During the first week of Australia’s nationwide lockdown, Employment Hero, an employer relations company, launched a COVID-19 resource hub where tools were available for the government’s JobKeeper payment scheme as well as employee wellness surveys. Furthermore, the company ran bi-weekly webinars with industry experts on topics such as employee rights to leave and pay, mental health and employee assistance programs, cash flow management, the employer’s duty of care with respect to remote work arrangements, and live employment law cases that involved employees.
In addition to introducing remote work functionality, Employment Hero also added tools to help employees get the most out of their time at work, such as one-on-one coaching and other feedback tools.