Global employment management platform, Employment Hero, announced today a Series F growth round, securing SGD229 million (about $167 million) to bolster its international expansion.
This follows its 2022 Series E round, bringing the total raised capital to over SGD 572 million. These funds have facilitated the development of its comprehensive platform that aids both employers and employees in managing employment seamlessly.
The platform enables streamlined recruitment, onboarding, and management processes for employers. Employees benefit from the Employment Hero super-app, ‘Swag’, assisting them in efficiently handling their work and finances, especially vital in the current economic climate.
This investment round was spearheaded by TCV, a major tech investor known for backing giants like Airbnb and Spotify. CEO and Founder of Employment Hero, Ben Thompson, expressed enthusiasm about TCV’s involvement, emphasizing their vision to revolutionize the SGD 1.7 trillion employment industry. Within a year, the company aims to break HR and Payroll boundaries, with aspirations of becoming a SGD 43 billion business.
Muz Ashraf of TCV praised Employment Hero’s commitment to improving global employment. The funding round also saw participation from earlier investors including Insight Partners, AirTree, Seek, and OneVentures.
BusinessNewsAsia