Employment Hero

Cloud based human resources software

Partially Exited | Insight Partners

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Employment Hero is a cloud based human resources software company targeting SMEs.

Employment Hero is a horizontal SaaS company providing SMEs with HR software for onboarding, personnel management and payroll – with an interface for both the employer and employee.

HR is a highly fragmented and under-developed aspect of a small business operation, often very time consuming and coming under the remit of staff who may not be formally qualified in HR. Employment hero identified a strong market opportunity for seamless HR management, with an upside of bringing payroll in-house. When the pandemic hit in 2021, having an accessible way of engaging staff remotely became critical for many businesses, with Employment Hero emerging as a market leader in championing work from home tools for both employers and employees.

Employment Hero continues to develop their product offering, with more tools and resources for culture and performance, remote hiring support across different countries and continents, people analytics and market analysis information as well as employee wellbeing and engagement.

Since 2016, the company has raised seven times, grown at +100% CAGR, expanded into five new countries, and completed a $250M acquisition of KeyPay.

When the company announced it had closed a $140 million funding round with an $800 million valuation in 2021, nobody was clapping louder than founding partner and managing director at OneVentures, Dr Michelle Deaker, who says she had caught a “dragon”.

While Employment Hero’s valuation in 2022 came in over the $1 billion dollar mark – a milestone that casts Employment Hero as a “unicorn” – the VC community bestows the title of “dragon” on any one company that performs so well that it pays back an entire fund on its own, which Employment Hero now has.

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