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HomeDigitalPeople and OrganizationEmployment Hero acquires KeyPay

Employment Hero acquires KeyPay

The human resources platform Employment Hero has raised $129 million, which puts it at a unicorn valuation in Australian dollars of $1.25 billion or $890 million US. The round was led by returning investors Seek Investments with participation from OneVentures, AirTree Ventures and other shareholders.

The Sydney, Australia-based company also acquired KeyPay, a payroll and people management platform that will remain as an independent brand and will obtain investments from Employment Hero to grow.

Employment Hero, offers a full suite of human resource management tools, including payroll and benefits. It is now used by more than 80 SMEs, representing a total of 000 employees. The company itself has a team of more than 750 full-time employees around the world. The latest funding announcement Employment Hero It was in July 2021, when he announced a E Series A$140 million led by Insight Partners at a valuation of A$800 million. In its latest round it has raised a total of an additional 220 million AUD.

KeyPay was founded in 2010 by Phil Bernie, Richard McLean, Paul Duran and Kristian Reynolds, and maintains its services in Australia, New Zealand, Singapore, Malaysia and the United Kingdom, which, according to Employment Hero, will help you grow in those markets. Bernie will remain as CEO of KeyPay, while Duran will remain its chief technology officer. The co-founder and CEO of Employment Hero, Ben Thompson, was an early investor in KeyPay in 2012.

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