Sydneybased Hr Employment Hero 45m Aud

Sydney-based HR startup Employment Hero has raised $45 million in a Series B round led by US-based Foundation Capital, with participation from new investor Salesforce Ventures and existing backer Sequoia China.

Employment Hero founder and CEO Ben Thompson said the new capital will be used to continue the company’s international expansion plans, which include opening an office in the US later this year.

The startup, which has a total of $74 million in funding to date, provides an HR platform that helps businesses with payroll, onboarding, benefits, and performance management.

In an interview with Forbes, Thompson said that the company’s focus on providing an all-in-one solution for HR has been a key driver of its success.

“The market opportunity in HR is huge. We’re attacking a $500 billion total addressable market, which is growing at 7% year-on-year,” he said.

“The complex and fragmented HR landscape presents a massive opportunity for a company like Employment Hero to provide an end-to-end solution that helps businesses with all their HR needs.”

According to Thompson, Employment Hero’s platform is used by more than 4,000 businesses in Australia, New Zealand, and Singapore, and the company is now looking to expand into the US market.

“The US is a huge opportunity for us. We’ve been seeing strong demand from US businesses for our platform, and we’re looking forward to offering our solution to them later this year,” he said.

The company’s expansion plans come as the global HR software market is forecast to grow from $15.1 billion in 2019 to $30.4 billion by 2025, at a CAGR of 11.9%, according to a report by Market Research Future.

 Thompson said that Employment Hero’s platform is well-positioned to take advantage of this growth, due to its focus on providing an all-in-one solution for HR.

“The HR software market is growing at a rapid pace, and we believe that Employment Hero is well-placed to capitalize on this growth. Our platform is designed to provide businesses with a complete HR solution, and we believe that this will be a key drivers of our success in the market,” he said.

The $45 million funding round is the largest to date for Employment Hero, and brings the total amount of funding raised by the company to $74 million.

The round was led by US-based Foundation Capital, with participation from new investor Salesforce Ventures and existing backer Sequoia China.

This latest round of funding will be used to continue the company’s international expansion plans, which include opening an office in the US later this year.

Employment Hero was founded in 2014 by Ben Thompson and John-Paul Barron, and is headquartered in Sydney, Australia.

The company provides an HR platform that helps businesses with payroll, onboarding, benefits, and performance management.

Employment Hero has a total of 4,000 customers in Australia, New Zealand, and Singapore, and is now looking to expand into the US market.

Related FAQs

  • What is an Employment Hero?

Employment Hero is a Sydney-based HR startup that provides an all-in-one HR platform for businesses. The platform helps businesses with payroll, onboarding, benefits, and performance management.

  • What is Employment Hero’s total addressable market?

Employment Hero’s total addressable market is $500 billion.

  • What is the global HR software market forecast to grow to by 2025?

The global HR software market is forecast to grow to $30.4 billion by 2025.

  • What is sydneybased hr employment hero 45m aud?

Sydney-based HR startup Employment Hero has raised $45 million in a Series B round led by US-based Foundation Capital, with participation from new investor Salesforce Ventures and existing backer Sequoia China.

  • Sydneybased hr employment hero aud series?

Sydney-based HR startup Employment Hero has raised $45 million in a Series B round led by US-based Foundation Capital, with participation from new investor Salesforce Ventures and existing backer Sequoia China.

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