Employment Hero banks over $100m to expand in SEA, Western Europe

HR platform Employment Hero banked S$140 million (US$102 million) in its latest funding round, tripling its valuation to S$806 million (US$590 million) in six months.

More funding details

• Lead investor: US-based Insight Partners
• Stage: Series E

More company updates

• The company plans to use the new funds to fuel its expansion into Southeast Asian markets and across parts of Western Europe. It also aims to enhance its platform and make new hires.
• Employment Hero’s expansion plans kicked off in October 2020, with the launch of its platform’s localized versions in Malaysia, Singapore, New Zealand, and the UK.
• The company also conducted a brand refresh and released a new website after completing research with thousands of potential customers.
• The announcement comes as Employment Hero logged a 113% year-on-year revenue growth and recorded S$14 billion in gross wages processed in the past 12 months, it said in a statement.
• Employment Hero’s CEO and co-founder Ben Thompson told the Sydney Morning Herald that the company is not eyeing an IPO in the near future.

For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.

Currency converted from SG dollar to US dollar: US$1 = S$1.37.