OneVentures, AirTree in $15m round for Australia HR platform

The investment reportedly values the start-up at more than A$100 million. It follows a A$6.2 million Series B last year co-led by OneVentures and Seek, as well as a A$3 million Series A in 2016 from OneVentures and AMP New Ventures.

“It’s good to be raising enough cash to give us a long runway to do what we’ve always wanted to do,” Employment Hero CEO Ben Thompson told The Australian. “We’re growing 100% year-on-year in Australia and we haven’t started focusing yet on international.”

Founded in 2013, Employment Hero offers a free cloud-based HR software services platform with a mobile app and payable premium content to about 8.5 million employees across about two million small to medium-sized enterprises in Australia. Focus service areas include health insurance, home loans, car leasing, and discounted utilities.

Australia’s workforce management space is an active area for private equity and venture capital. In the past 12 months alone, companies receiving investment have included Humanforce, Acendre, Quintet, Advanced Personnel Management, Culture Amp, Flare, and Deputy. In March, M12, the VC arm of Microsoft led a $21 million round for GO1, a workforce start-up focused on corporate training.

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• Topics
• Australasia
• Support services
• Early-stage
• Australia
• OneVentures
• AirTree Ventures
• professional services