Employment Hero co-founder and CEO Ben Thompson. Source: Supplied
Australian HR and payroll giant Employment Hero has secured a fresh $263 million capital raise, a figure that prepares the venture for deeper international expansion and defiant of the downswing in blockbuster funding activity.
The Series F round was led by Californian giant Technology Crossover Ventures (TCV), which has previously backed global titans like Airbnb and Spotify.
In a statement released Thursday, Employment Hero CEO and co-founder Ben Thompson said investment from TCV was a vote of confidence in his firm’s ambitious plans.
“While we were not actively seeking funding, our growth story has meant that we have received significant inbound investor interest – this has given us incredible confidence in our vision and allowed us to opportunistically boost our balance sheet, even at a time when the funding environment has been tight,” he said.
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