Eight-year-old Aussie human resources, payroll and benefits software maker Employment Hero has closed a major funding round of $181 million, catapulting past the milestone billion-dollar “unicorn” valuation mark to $1.25 billion and funding its first-ever acquisition.
The funding round was led by SEEK Investments, with long-standing Australian-based investors OneVentures and AirTree Ventures returning for more, alongside a number of pre-existing investors. The company’s most recent funding round had been led by US-based Insight Partners last year and had valued it at $800 million.
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Paul Smith edits the technology coverage and has been a leading writer on the sector for 20 years. He covers big tech, business use of tech, the fast-growing Australian tech industry and start-ups, telecommunications and national innovation policy. Connect with Paul on Twitter. Email Paul at psmith@afr.com
