Tuesday, 27 March 2018 01:39

Employment Hero boosts coffers with $8 million funding raise

Employment Hero boosts coffers with $8 million funding raise Image courtesy of sscreations at FreeDigitalPhotos.net

Cloud-based HR, payroll and benefits platform Employment Hero has secured $8 million in Series B funding in a funding round co-led by recruitment firm Seek and OneVentures.

This latest funding round adds to Employment Hero’s $4.5 million Series A that was led by OneVentures with co-investment by AirTree Ventures and AMP New Ventures in 2016.

The Sydney-founded Employment Hero manages the entire employment life-cycle for small-to medium sized businesses, combining HR software, scheduling and payroll tools, performance management, employee benefits and financial services into an Employment Management Platform.

Ben Thompson, founder and chief executive of Employment Hero, said: “Employment Hero is taking the hard work out of people management and improving employee engagement for over 1500 businesses across Australia. By automating many of the manual processes associated with employment, they are freed up to focus on business growth and fostering their people.

“By working closely with Seek, we want to be able to make it easier to move from recruiting to onboarding. We’re excited for a future where transitioning into new employment is a seamless and enjoyable experience and where the paperwork and administration for recruiters, HR business partners, employers and employees is drastically reduced.”

Employment Hero said the latest round of funding would be used to roll out a string of new products and solutions that bring more value to the platform.

Ronnie Fink, corporate development director of Seek, said: “Employment Hero is helping businesses succeed by removing major pain points that exist in almost every small to medium Australian business.

“We are pleased to support a business that is so well aligned to Seek's purpose, which is helping more people live fulfilling and productive working lives and helping organisations succeed. We are excited to be part of the growth prospects that lie ahead for Employment Hero.”

Dr Michelle Deaker, managing partner of OneVentures, said, “Employment Hero is demonstrating significant growth. Ben Thompson and the team are executing well on the business plan to capture what is a very large opportunity. SEEK is well regarded for their positive impact on their investments and we look forward to the opportunity afforded by the partnership.”

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Peter Dinham

Peter Dinham - retired and is a "volunteer" writer for iTWire. He is a 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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