Sydney-based HR tech company Employment Hero has acquired Canadian employment platform Humi for CAD$100 million ($112 million) as part of its global growth strategy.
The move comes just a year after Employment Hero secured $263 million in Series F funding, led by venture capital firm TCV, achieving a valuation of over $2 billion.
Employment Hero, founded in 2014 by CEO Ben Thompson and CTO Dave Tong, serves more than two million employees and 300,000 small-to-medium businesses across Australia, New Zealand, the UK, and the Asia-Pacific.
The acquisition aims to combine Employment Hero's Employment operating system with Humi's expertise in Canada to enhance HR, payroll, and benefits solutions for Canadian SMEs.
"Canada has been in our expansion plans since our Series A," said Thompson. "Humi's deep knowledge of Canadian employment and impressive track record make them the perfect partner."
He confirmed Humi will remain Canadian-operated to serve local businesses effectively.
Toronto-based Humi, founded in 2016, supports nearly 30,000 employers and 150,000 employees.
CEO Kevin Kilman commented, "This is a catalyst to help more Canadian businesses. We'll remain proudly Canadian-operated, focused on our unique market."
Backed by investors like Insight Partners, AirTree, Seek, and OneVentures, Employment Hero plans to leverage its new foothold in Canada to accelerate its global impact, building on TCV’s vision of scaling best-in-class HR platforms worldwide.