Employment Hero rakes in US$167M to accelerate global expansion

Australia-based employment management company Employment Hero has secured SGD229 million (~US$167 million) in a Series F growth round of financing for global expansion.

Led by global growth fund TCV, the round also saw participation from existing backers Insight Partners, AirTree, Seek, and OneVentures.

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The deal follows the company’s 2022 Series E of US$130 million and takes the total capital to over SGD572 million (US$416 million).

Founded by Ben Thompson and Dave Tong, Employment Hero has built an all-in-one platform to recruit, onboard, pay and manage talent. Its super-app Swag is a real-time control centre, empowering employees to manage their work and financial lives.

Since its inception in 2014, it has expanded to New Zealand, the UK, Malaysia, and Singapore.

The firm claims to serve over 300,000 SMEs and 2 million employees globally.

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Founded and CEO Thompson said: “Within 12 months, Employment Hero will transcend the traditional confines of HR and Payroll. We will open doors to a world where talent flows like water through a pipe, right to your doorstep. That’s the future we’re building. Businesses can seamlessly plug into our unparalleled reservoir of talent, with automatic compliance and compensation mechanisms. No more time or hassle growing your business.”

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Image Credit: Employment Hero

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