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Monday, 08 July 2019 20:59

Employment Hero raises $22 million in new funding

By
Employment Hero co-founder & CEO Ben Thompson Employment Hero co-founder & CEO Ben Thompson

Cloud-based HR, payroll and benefits platform Employment Hero has secured $22 million in Series C funding, in a round led by Australian online jobs board SEEK.

The new funding round — with participation from OneVentures and AirTree Ventures as well — brings Employment Hero’s valuation to over $100 million.

Employment Hero says the funding will allow it to continue to build and expand on its new WorkLife Passport offering, which will enable employees to share their onboarding information seamlessly throughout their entire career via the platform – and “help fuel the company’s launch into international markets, with an initial focus on New Zealand, South East Asia, the UK and Ireland”,

Powered by the injection of fresh capital, Employment Hero says it will develop strategic integrations into SEEK's “expansive marketplace, working closely with the team to create a more “holistic employment management experience for small businesses”.

According to Employment Hero, Australian SMEs using its platform, report reducing time spent on people management by up to 80%, time spent on payroll processing by up to 60% and onboarding a new hire to just minutes.

“This latest raise is an extraordinary opportunity to see Employment Hero’s purpose come to life at scale, fulfilling our mission to make employment easier and more rewarding for everyone.” says Ben Thompson, co-founder and CEO of Employment Hero.

“As an advanced employee management and payroll platform, working hand-in-glove with the largest employment platform, SEEK, we can offer real value to businesses anywhere on the planet. We not only want to help our existing businesses to grow internationally, but we want to start supporting the businesses that approach us from outside Australia.

“By working with the teams at SEEK, OneVentures and AirTree, we have a genuine opportunity to change the employment landscape, giving employers more confidence to grow their business, and helping employees to better save, manage and build their finances.”

Ronnie Fink, managing sirector of corporate development at SEEK, said: “SEEK is well placed to play a greater role in the Human Capital Management market.

"HR SaaS is one of three key areas of focus for us, and our increased investment in Employment Hero reflects our confidence in their value proposition and their strong management team. We have been very pleased with their performance to-date and look forward to working with them more closely to capitalise on the growth opportunity that lies ahead.”

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Peter Dinham is a co-founder of iTWire and a 35-year veteran journalist and corporate communications consultant. He has worked as a journalist in all forms of media – newspapers/magazines, radio, television, press agency and now, online – including with the Canberra Times, The Examiner (Tasmania), the ABC and AAP-Reuters. As a freelance journalist he also had articles published in Australian and overseas magazines. He worked in the corporate communications/public relations sector, in-house with an airline, and as a senior executive in Australia of the world’s largest communications consultancy, Burson-Marsteller. He also ran his own communications consultancy and was a co-founder in Australia of the global photographic agency, the Image Bank (now Getty Images).

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