The Employment Hero team
Sony Ventures hits first close of US$217M Fund III
Sony Ventures Corporation, a wholly-owned subsidiary of Sony Group Corporation, has completed the first closing of its new JPY 25 billion (US$217 million) fund, Sony Innovation Fund 3.
Investors include Mizuho Group, Daiwa Securities, Sumitomo Mitsui Trust Bank, The Bank of Yokohama, The Shiga Bank, Koei Tecmo Group, Kawasaki Heavy Industries, Mitsubishi Estate, a university, and the Sony Group.
Established in July 2021 and managed by Sony Ventures, Sony Innovation invests in all stages of emerging technology companies and startups solving global environmental challenges. Its previous funds are Sony Innovation Fund (established 2016), Sony Innovation Fund by IGV (2019), a joint venture with Daiwa Capital, and Sony Innovation Fund: Environment (2020).
“We actively foster entrepreneurs and startups that lead the creation of next-generation technologies, promote open innovation, and contribute to the global environment and social development through our corporate venture capital activities,” said Gen Tsuchikawa, CEO of Sony Ventures Corporation. “Sony Ventures Corporation will not only invest in emerging technology sectors and high-growth startups but will further strengthen its ESG initiatives and eagerly support its portfolio companies.”
Employment Hero closes US$130M round, acquires KeyPay
Employment Hero — an HR, payroll and benefits company in Australia — has closed a US$130 million funding round, led by existing investor SEEK Investments with participation from OneVentures, AirTree Ventures and others.
This brings the company’s valuation to AUD1.25 billion (close to US$1 billion).
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This news comes on the heels of Employment Hero’s acquisition of workforce management and payroll solution, KeyPay. With this acquisition, Employment Hero now has over 80,000 SMEs, collectively managing more than 750,000 workers using its platform.
Key Pay will be retained as an independent brand and receive ongoing investment to grow its team. Together with KeyPay, Employment Hero now offers a leading suite of total employment management solutions that cover four key pillars: talent solutions, core HR, payroll, and e-benefits.
Founded in 2010, KeyPay has a presence across Singapore, Malaysia, Australia, New Zealand, and the UK.
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The post News roundup: Sony Ventures launches US$217M Fund III, Employment Hero raises US$130M appeared first on e27.