(L-R) Employment Hero co-founders Ben Thompson and Dave Tong
Global employment solutions provider Employment Hero has announced the acquisition of Humi, a leading Canadian employment platform, in a deal estimated to be worth over CAD100 million (US$69.6 million).
This acquisition marks a significant step in Employment Hero’s global expansion strategy, specifically in the Canadian market.
The deal will combine Employment Hero’s global innovation and Employment Operating System (eOS) with Humi’s deep understanding of the Canadian market. This partnership aims to create a localised solution for Canadian businesses.
Also Read: Employment Hero rakes in US$167M to accelerate global expansion
Thousands of Humi’s small and medium-sized enterprise (SME) customers will gain access to an all-in-one platform for payroll, HR, and benefits specifically designed for the Canadian business landscape. The companies aim to double their customer base in the near future, solidifying their position as a leader in employment management solutions within the region.
Canada, with over one million SMEs, represents a significant opportunity for improved productivity amongst employees and employers. This partnership is expected to fuel further product innovation as Humi grows to meet the evolving needs of Canadian businesses.
Humi has been developing employment solutions for almost a decade, focusing on valuing, supporting, and inspiring employees based on the idea that businesses thrive when they prioritise their people.
Ben Thompson, CEO and co-founder of Employment Hero, said: “The Humi team has a deep knowledge of Canadian employment and an impressive track record of supporting businesses in Canada. Humi will remain Canadian-operated, and their team will continue to serve the unique needs of local businesses.”
Employment Hero’s eOS integrates HR, payroll, recruitment, and employee engagement tools. Serving over 300,000 businesses and managing over 2 million employees worldwide, Employment Hero aims to reduce administrative burdens, allowing businesses to focus on growth and employee engagement.
In October 2023, Employment Hero secured SGD229 million (~US$167 million) in a Series F growth round of financing for global expansion in 2023. Led by global growth fund TCV, the round also saw participation from existing backers Insight Partners, AirTree, Seek, and OneVentures.
Also Read: When your employer is quietly quitting you: The untold perspective
Since its inception in Australia in 2014, Employment Hero has expanded to New Zealand, the UK, Malaysia, and Singapore
Humi is known as a comprehensive employment platform for Canadian businesses, focusing on providing a unified payroll, HR, and benefits solution.
The post Employment Hero expands to Canada with US$69.6M acquisition of Humi appeared first on e27.