“This investment will further position Employment Hero to become Australia’s largest employment management platform.
Sydney, Australia (PRWEB) February 05, 2015
Employment Innovations today announced it has secured USD$4million (AUD$5.1million) of debt funding from Partners for Growth (PFG), a specialty lender focused on financing growth businesses worldwide. The funding will support the company's plan to improve the way businesses manage recruitment, HR and payroll via their powerful cloud-based platform, Employment Hero.
Employment Innovations launched its employment management platform, Employment Hero in the Australian market in early 2014 and added free unlimited online job advertising, career pages and paperless employee onboarding in December.
Employment Innovations has already grown its employee and partner rewards platform, Power2Motivate, throughout the Asia Pacific region over the last 7 years.
With offices in most Australian capital cities, as well as Singapore, this significant funding will further accelerate Employment Innovations’ expansion in 2015 with new offices in London and Europe.
Employment Innovations Chief Executive Officer, Ben Thompson said the immediate success of Employment Hero at the tail end of 2014, and the recent boost in funding, reinforces the company’s vision to take people management and payroll management into the cloud.
“This investment will further position Employment Hero to become Australia’s largest employment management platform. We have seen how quickly Australian businesses are converting to cloud accounting software, and we expect this trend to flow through to employment management and advance payroll software this year.”
Thompson said, “Employment Hero is set to transform the management of recruitment, employment and payroll in the cloud for businesses. With this funding we’ll be able to significantly increase the Employment Innovations’ sales team in Australia, enter new markets and ramp up development.”
For the past few months Employment Hero has added around 50 Australian businesses per day and is on track to exceed 15,000 customers this calendar year. The platform’s no-cost components have proved particularly popular and valuable for businesses in the retail and hospitality industries.
In 2015, Employment Innovations plans to utilise funding to:
● Establish an Employment Hero 15-person national sales team
● Develop additional Employment Hero recruitment and HR tools
● Progress the development of the Employment Hero’s mobile applications for Apple iOS and Android platforms
The investment funding will also support the continued expansion of Power2Motivate into the Asian and European markets, as well as expand Employment Innovations’ professional services in employment law, industry relations, migration, and HR consulting.
Employment Innovations was ranked in the top 10 of BRW’s list of Most Innovative Companies 2014 for its cloud-based employment management platform.
About Employment Innovations
Employment Innovations has been passionately helping Australian employers navigate the complexities of the employment landscape for over two decades. The Sydney-based company has deep expertise in helping employers build the best workplaces by offering a deeper level of engagement, compliance and streamlined processes.
About Partners for Growth
Partners for Growth provides debt capital to revenue stage technology and life science companies with growth prospects requiring $1 million to $10 million of financing. Based in San Francisco, the Partners for Growth team has been financing emerging growth companies for over 30 years.