Australia’s startup ‘Employment Hero’ raised $102m in Series E round and partners with Design by Twist

Employment Hero is a Human Resources, payroll and benefits startup cloud based in Sydney co-founded by CEO Ben Thompson and CTO Dave Tong. Employment Hero benefits 6000 enterprises at the present moment and manages over 250000 employees globally. The firm expanded its staff by 65 percent in the fiscal year 2020-2021, bringing the total to 325 full-time equivalents (FTEs). The company is mainly designed for small to medium businesses at present.

The company it was launched in 2014 and it sells Human Resources software that incorporates payroll, employment contracts, accounting, employee benefits and retirement into a web platform. This highly efficient application is called Employment Management Platform.

Proven efficacy

Employment Hero claims that roughly 97% of employers located in Australia have under 200 workers and lack access to technologies that would ease the people management processes or allow them to provide more significant perks to their employees.

Ben Thompson, CEO and co-founder, praised the company’s efficiency and success:

‘As the COVID-19 pandemic rages on in the region, with several SMEs still working remotely or in split teams, we are proud to provide businesses with solutions that are designed to make the working experience seamless and sustainable.’

Partnership with Design by Twist

After conducting comprehensive research with thousands of existing and potential consumers around the world, Employment Hero created a refresh in collaboration with Sydney-based creative studio Design by Twist.

The brand update gives it a new, happier image, emphasizing its current mission – to make work easier and more fulfilling for everyone. The effort includes a new brand strategy, website, visual tone, motion design, and sound branding, all of which are in line with Employment Hero’s objective to help SMEs succeed by providing end-to-end payroll, people management, and productivity solutions.

Series E fundraising

Employment Hero led and made public a $102 million Series E fundraising round headed by Insight Partners, a worldwide venture capital and private equity firm.

The current round of investment has increased the startup’s valuation to S$806 million. This occurred in less than five months’ time after it secured $35 million in the Series D funding backed by ASX-listed job board SEEK.

Ben Thompson also made predictions about the future of the company:

‘This latest round of funding will enable us to bolster our brilliant team and accelerate our innovation timelines with the ultimate goal of simplifying employment for SMEs all around the world.’

Employment Hero announces a 113 percent year-on-year revenue increase and a total of S$14 billion in gross salaries handled over the last year.

Employment Hero said in a statement made on Wednesday that it will utilize the new cash to accelerate its growth into Southeast Asian countries. It also intends to grow throughout Western Europe and optimize its platform engineering skills.

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