Australian HR tech firm raises fund to expand, including in Malaysia

KUALA LUMPUR: Australian human resources technology firm Employment Hero has raised RM141.6 million in a Series D funding round to accelerate growth in Australia, and doubled down on its international expansion strategy, including in Malaysia.

It said the latest funding was led by return investor SEEK, with participation from previous backers, OneVentures and AirTree Ventures, as well as the company's newest investor, Salesforce Ventures.

"As part of its first wave of international rollout, Employment Hero successfully launched localised versions of its signature people, payroll and benefits solution in New Zealand, the United Kingdom, Malaysia and Singapore in late 2020," it said in a statement here Tuesday.

Funds raised from the Series D will support Employment Hero's continued growth in these markets and facilitate a significant push across Southeast Asia, reinforcing the company's mission to make employment easier and more rewarding for every small and medium enterprises (SMEs) globally.

Ben Thompson, chief executive officer and co-founder of Employment Hero, said: "This latest round of funding will allow us to continue building powerful features to simplify employment."

Employment Hero has over 6,000 SMEs, collectively managing over 250,000 employees, using its platform and has experienced a 100 per cent year-on-year increase in revenue since inception.

SEEK is a diverse group of companies that have a unified purpose to help people live more fulfilling and productive working lives and help organisations succeed.

The Group encompasses a strong international portfolio of employment and education businesses and isa market leader in online employment marketplaces, with deep and rich insights into the future of work.

-- BERNAMA