Human resources technology startup Employment Hero has leveraged the remote working trend to pick up more cash, with the company raising $140 million in its latest funding round. The fresh influx of funds has tripled the Sydney-based startup’s valuation to $800 million, with US venture capital giant Insight Partners leading the latest funding round. Its existing backers include online jobs site Seek, venture capital firms OneVentures and Airtree Ventures, as well as Salesforce’s venture arm Salesforce Ventures.
“I think people unfortunately have been thrown into really difficult circumstances and they’re trying to figure out how to employ people remotely and we’ve thrown everything at helping them do that,” co-founder and chief executive Ben Thompson said. “It has become a bit of a tailwind for us and has helped us accelerate our growth as a business.”
Employment Hero has also entered the fintech space with its instant pay product, which enables people to receive their wages in real-time.
Announcement: Employment Hero Raises $140M to Power Remote Workers