SEEK invests millions into Australian start-up Employment Hero, valuation soars to more than $100 million

HR managers are just one industry looking to be challenged by technology
  • SEEK has backed the increasing automation of Australia’s HR departments, leading a $22 million investment round in HR software firm Employment Hero that included venture capital firms OneVenture and AirTree Ventures.
  • The latest funding takes the valuation of the Australian start-up to more than $100 million, as it begins to target global expansion.
  • While analysis by SEEK competitor, Indeed, claims the role of HR manager is safe from robots, automation is helping transform their day-to-day roles.

With workplace automation ranking as one of the top job skills in Australia, perhaps you’re seeing less and less of your HR manager.

As companies continue to outsource management tasks to computers, much of what was once the day-to-day of the HR department is becoming the responsibility of software, not people.

That’s not to say HR jobs are becoming obsolete — research suggests it might be one of the safer professions — but certainly the role of managers is transforming.

It’s a trend that one of Australia’s largest online jobs portals SEEK is now backing, having led a $22 million funding round in HR software firm Employment Hero.

Employment Hero claims to handle the responsibilities of HR, payroll and employee benefits for more than 4,000 small and medium enterprises (SMEs) in Australia, and all from the cloud.

The latest round, which includes investment from Australian venture capital firms OneVentures and AirTree Ventures, lifts the valuation of Employment Hero to more than $100 million.

Co-founder and CEO Ben Thompson said the new capital will be used to scale up and go global, as the company aims to emulate the international success of accounting software Xero.

“In Australia, 97% of employers have less than 200 employees and largely don’t have access to the right tools to make that process easy or offer more meaningful benefits to their staff. Our single platform solves this dilemma by essentially doing for employment what Xero is doing for bookkeepers,” Thompson said in a statement provided to Business Insider Australia.

By using a single HR software system, Thompson believes that businesses can more easily manage staff and keep on top of industry changes.

“For example, we moved fast in response to Commissioner Hayne’s recommendation that the superannuation industry should develop ‘the machinery’ to provide one superannuation fund for life, with our new Passport feature giving employees that ability.”

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.