Software start-up banks $11m to combat wage theft crisis
Yellow Canary, a Sydney-based software start-up that promises to help businesses beat the growing scourge of wage theft and incorrectly paid entitlements, has closed an $11 million funding round, as it aims to ramp up operations take advantage of businesses’ need to comply with stiffening laws.
The company developed an automated technology platform that lets employers manage workforce compliance obligations across employee payments, entitlements, superannuation and taxes, and attracted the investment primarily from venture capital firm Parc Capital.
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