KKR, the global investment powerhouse, has made a significant move by acquiring a stake in Employment Hero, the leading HRM platform revolutionizing human resource management for small and medium-sized businesses (SMBs). The acquisition, announced today, involves KKR funds purchasing the stake from SEEK Investments, while SEEK continues to back Employment Hero’s mission.
Founded in 2014, Employment Hero has rapidly expanded, providing an end-to-end employment operating system (eOS) that offers a seamless HR, payroll, recruitment, and employee engagement platform. Serving over 300,000 businesses globally, the company has proven its ability to simplify the employee lifecycle while enabling businesses to focus on growth.
KKR’s Vision for Expansion
Mukul Chawla, Partner and Head of Asia Pacific Growth Equity at KKR shared his excitement about the investment, highlighting that the deal aligns with KKR’s focus on SMB software. “We look forward to supporting Employment Hero’s platformisation and its international expansion, especially in markets like the UK, Canada, and Australia,” he said. The investment marks another milestone in KKR’s strategy to strengthen its technology portfolio across key global markets.
A Strong Growth Trajectory
This acquisition comes on the heels of Employment Hero surpassing A$250 million in annual recurring revenue (ARR). CEO Ben Thompson highlighted that this milestone reflects the growing global demand for their suite of HR solutions. “KKR’s resources and network will be instrumental as we expand further,” he remarked, welcoming KKR as a key partner in the company’s journey.
Strategic Partnership with SEEK Investments
SEEK Investments, which has long supported Employment Hero, remains a significant player in the company’s growth. Andrew Bassat, Executive Chairman and CEO of SEEK Investments reaffirmed his confidence in the company’s direction, stating that the SEEK Growth Fund would continue to contribute to Employment Hero’s success.
With this strategic investment, KKR and SEEK aim to propel Employment Hero to new heights, reshaping how SMBs manage HR globally. This partnership is expected to drive further innovation and expand the company’s international presence.
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