Employment Hero is a Sydney-based cloud HR, payroll and benefits startup co-founded by CEO Ben Thompson and CTO Dave Tong. Employment Hero currently benefits 6,000 businesses and manages over 250,000 employees worldwide. The company increased its workforce by 65% in fiscal year 2020-2021, bringing the total to 325 full-time equivalents (FTEs). The company is primarily designed for small and medium businesses at the present time.
The company was launched in 2014 and sells human resources software that integrates payroll, employment contracts, accounting, benefits, and retirement into a web-based platform. This very efficient application is called Employment management platform.
Employment Hero claims that around 97% of employers in Australia have fewer than 200 workers and lack access to technologies that would facilitate people management processes or allow them to deliver greater benefits to their employees.
Ben Thompson, CEO and Co-Founder, praised the efficiency and success of the company:
“As the COVID-19 pandemic rages across the region, with several SMEs still working remotely or in split teams, we are proud to provide businesses with solutions designed to make the work experience seamless and sustainable.”
Partnership with Design by Twist
After conducting extensive research with thousands of existing and potential consumers around the world, Employment Hero has created a refresh in collaboration with Sydney-based design studio Design by Twist.
The brand update gives it a new, happier image, highlighting its current mission – to make work easier and more fulfilling for everyone. The effort includes a new branding strategy, new website, visual tone, lively design and sound branding, all of which are in line with Employment Hero’s goal of helping SMEs succeed by providing end-to-end payroll, people management and productivity solutions.
Series E Fundraiser
Employment Hero led and made public a $ 102 million Series E financing round led by Insight Partners, a global venture capital and private equity firm.
The current investment cycle has increased the startup’s valuation to S $ 806 million. It happened in less than five months after securing $ 35 million in Series D funding backed by ASX-listed job site SEEK.
Ben Thompson also made predictions about the future of the company:
“This latest round of funding will allow us to strengthen our brilliant team and accelerate our innovation timelines with the ultimate goal of simplifying jobs for SMEs around the world.”
Employment Hero reports a 113% year-over-year increase in revenues and a total of S $ 14 billion in gross wages processed over the past year.
Employment Hero said in a statement on Wednesday that he would use the new cash to accelerate growth in Southeast Asian countries. It also intends to develop throughout Western Europe and optimize its skills in platform engineering.
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