Employment Hero

🇦🇺 This Week in Australian Startups #179, 26th September 2026

Weekly roundup recording a dozen raises and acquisitions, Firmus's scheduled float, a new $50m venture fund, a founder share sale, grant winners, an accelerator intake, and an AI agent's government breach.

Also Dynamic Business·DealStreetAsia·This Week in Australian Startups·Dealroom·ABC News Technology

Canva takes the fight to Microsoft and Google for enterprise subscribers

Canva is pushing productivity tools like Docs and Sheets to win enterprise subscribers from Microsoft and Google, while slowing its AI rollout to control costs and trimming its revenue growth forecast.

Skalata named Australia's most active investor for H1 2024

Australian startup capital climbed 30% in early 2024 even as deal counts fell; Skalata Ventures topped investor activity with 13 participations, ahead of Blackbird and Investible.

Also TechCrunch Australia·Forbes Australia·SmartCompany·SmartCompany·Startup Daily·SmartCompany·SmartCompany·SmartCompany·SmartCompany·SmartCompany·SmartCompany·Startup Daily·SmartCompany·Australian FinTech·Forbes Australia·Forbes Australia

Bids for unicorn Employment Hero test $2b value in Seek sell-off

Bids for Seek's stake in HR software firm Employment Hero point to a resilient valuation, while Seek prepares to hand shareholders proceeds from selling a billion dollars of startup holdings.

Energy grid digital twin platform Neara turns unicorn with $90 million Series D

Australian grid-modelling startup Neara raised a $90 million Series D led by TCV, valuing the company above $1 billion, funding ML and expansion.

VCWorld Signal: Employment Hero Raises $263 million

A brief signals post reports Employment Hero's $263 million raise, described as the largest private software investment recorded in Australia, with no investors named.

Partners for Growth launches AUD $250m tech credit fund

Partners for Growth's PFG Income Fund has held a first close on private credit for later-stage technology borrowers, with commitments exceeding A$250 million, deploying structured growth debt in Australia and globally.

Also Australian FinTech

Seek’s VC fund is conscious uncoupling with Employment Hero

Seek's venture arm has begun selling its remaining stake in Employment Hero, a year after a $95 million partial sale to KKR, following the recent resolution of their Federal Court dispute over API access.

SEEK to sell Employment Hero stake after court battle ends

SEEK's venture arm has begun a sale process for its remaining Employment Hero stake, following a $95 million partial sale to KKR and a resolved Federal Court dispute over API access.

Cheque-in: 10 ANZ startups raised nearly $193 million this week

Weekly roundup of ten Australian and New Zealand startup raises totalling nearly $194 million, topped by Neara's $90 million round at a $1.1 billion valuation, with Splose, Operata, HAMR Energy and Adora also covered.

Neara powers up to unicorn status with $90 million capital raise

Neara joins the unicorn club after a TCV-led $90 million Series D at a $1.1 billion valuation, with existing backers participating; funds will fuel global expansion and engineering hires.

Also Startup Daily·RenewEconomy·RenewEconomy·Startup Daily

Airtree's Fund V: $650m to back Aussie and Kiwi founders from idea to global household name

AirTree closes its $650m Fund V across seed and growth vehicles, backed mostly by international institutional capital, and promotes three early-career investors to Principal.

MyGig raises $1M for casual payroll and compliance platform

SmartCompany reports MyGig's $1 million pre-seed round, led by Artesian with Hostplus funds, to grow an employer-of-record service handling payroll and workplace compliance for casual workforces.

Investment Notes: Vinyl

Tidal Ventures sets out why it led the seed investment in Vinyl, whose software turns accounting firms' client conversations into structured insights, profiling the market, product plans, and founding team.

Airtree Ventures closes $650M fund with international backing, fueling ANZ startup growth

Sydney venture firm Airtree has completed the close of its fifth fund at $650 million, drawing backing from US institutional investors and Australian superannuation funds, with allocations set for early and growth stages.

Airtree Launches $650m Fund V, With Global Investors Backing ANZ Tech Ambitions

Airtree has launched Fund V, a $650 million pool divided into seed and growth sleeves and backed largely by global institutions, while promoting three investors, among them Perth-raised Dan Coughlan.

Also techpinions.com·Dealroom

Airtree Raises $650M Fund V to Back Australia and New Zealand Tech Founders

Sydney venture firm Airtree has closed its fifth fund, split into a US$250 million seed vehicle and a US$400 million growth vehicle, and promoted three investors to Principal.

Also Fintech News Australia

Employment Hero sues investor Seek over job platform access

Employment Hero has begun Federal Court action against backer Seek to halt its job-listing API shutdown; the piece recalls Seek's 2018 investment and KKR's $95 million stake purchase.

Leigh Jasper leads a new $50 million fund backed by Australian unicorn founders

Glitch Capital, a new $50m vehicle led by Leigh Jasper and backed by exited unicorn founders, has completed its first deal, backing Melbourne edtech firm Cadmus.

Queensland R&D finance fintech raises $2.3 million

Equity raise of $2.3m by Advanced, a Sunshine Coast R&D finance startup building a $25m lending fund; backers include Wayne Gerard and Phil Cummins, who joins the board.

Also Startup Daily·Startup Daily

Seek offloads a $95 million slice of its Employment Hero investment to US private equity firm KKR

Seek is selling part of its Employment Hero holding to KKR for $95m, implying a $2.2bn valuation; the article also recalls the HR startup's Series F and its buyouts of Humi and Employment Innovations.

Why some former Bench customers are not happy

A fintech roundup: Bench's closure and sale to Employer.com, multiple acquisitions, fresh raises at Float Financial, Open Ledger, NomuPay and Buk, Robinhood's regulator settlement, and Groww's listing plans.

After buying the founder's own business for $43 million, Employment Hero spends another $112m on a Canadian rival

Employment Hero acquires Canada's Humi for $112m and, filings show, paid $43.4m for Ben Thompson's Employment Innovations; the story also recalls its 2023 Series F and investor clash.

Also TechCrunch Australia·Startup Daily

Bootstrapped father & son AI startup banks $22 million Series A in 1st raise after 6 years

Brisbane market-research software firm Askable, self-funded since 2017 by a father-son duo, has announced a $22m Series A led by AirTree at a $100m valuation, with Skip Capital and founder angels backing it.

Also SmartCompany

VC Airtree brings in new US investors for fifth fund with $650 million target

Airtree Ventures has reached a first close on its fifth fund, drawing commitments from three US institutions plus returning local super funds, against a $650 million target.

Australian VC OneVentures set to hit $1bn in FUM

OneVentures' media-roundup page archives press coverage of the firm and of Employment Hero's major funding round, while its headline funds-under-management milestone remains an intention rather than a completed close.

Mick Dempsey

Interview with entrepreneur Mick Dempsey recalling founding payments firm Ezidebit, its 2014 sale to Global Payments, his family office's early-stage tech investments, plus his new legal-tech venture EzyLegal.

Nine ANZ startups that raised $60.3 million this week

Roundup of the week's funding news: nine companies across Australia and New Zealand secured investment spanning clean energy, construction logistics, legal tech, coaching, research tools, creator media, medtech and marketing software.

Also Startup Daily·SmartCompany·SmartCompany·SmartCompany·SmartCompany·LaunchVic

Employment Hero debuts SmartMatch amid concerns over AI and recruitment bias

Employment Hero has rolled out SmartMatch, an AI job-matching feature for small businesses; chief executive Ben Thompson defends its bias safeguards as the piece weighs fears the technology could entrench workplace sameness.

The 10 biggest capital raises by Australian startups in 2023

A year-end SmartCompany roundup counting down 2023's ten largest Australian startup raises, headed by Employment Hero's $263m Series F, with investor details and commentary on fewer mega-rounds and continued under-representation of women co-founders.

Blast OIF | 23 things from 2023

OIF Ventures' year in review: full Eftsure exit, Opportunity Fund close, Visory, DataMasque and Nullify backed, follow-ons at Inspace and Dataweavers, new team members and portfolio milestones.

Also OIF Ventures portfolio·OIF Ventures portfolio·OIF Ventures portfolio

Sydney VC OneVentures turns $8.8 million Employment Hero investment into $116m

OneVentures realised $116.2 million selling its Employment Hero stake in a secondary deal, and its managing director Michelle Deaker is leaving the HR platform's chair role while staying on the board.

Cybersecurity Sector Leads For New Unicorns In October, With Zero From Silicon Valley

Crunchbase's October 2023 unicorn board update: nine newcomers led by two cybersecurity firms, with Sydney's Employment Hero reaching unicorn status, Shield AI revalued upward, and Convoy and Olive AI shutting down.

Also Crunchbase News

Ten Aussie startups that raised $39 million this week

Roundup of ten Australian startup raises totalling $38.8 million, topped by Heidi Health's Series A, also recording an Outstaffer executive appointment and the earlier sale of CarAdvice to Nine.

Also SmartCompany·Startup Daily

HR and outsourcing startup Outstaffer lands $1.5 million in first raise

Outstaffer, a Victorian HR tech platform, has secured $1.5 million from outside investors in a round co-led by its chief operating officer, funding product development and a planned US expansion.

Also SmartCompany

Eight Aussie startups that raised $433 million this week

Roundup of eight Australian startup raises totalling $433m, topped by Employment Hero's $263m Series F and Skykraft's $120m round; Darwinium, Konvoy Kegs, The Martec and three Birchal crowdfunds complete the week.

Also AgFunderNews

Employment Hero hits $2 billion valuation after whopping $263 million Series F

Employment Hero raised a $263 million Series F led by TCV, reaching a $2 billion valuation, with existing backers reinvesting; Skykraft announced a $120 million raise.

Also employmenthero.com

Employment Hero raises $263 million in record Australian private software funding round

Australian HR software firm Employment Hero has banked a large Series F led by US investor TCV, lifting its valuation towards $2 billion, with several existing backers also taking part.

From zero to Employment Hero

Sydney HR-and-payroll firm Employment Hero announced a TCV-led Series F reaching unicorn valuation; the profile covers its products, remote workforce and global ambitions, citing rival raises.

Employment Hero valued at $2bn after $263 million raise

HR platform Employment Hero announced a Series F of $263 million with TCV leading, valuing the company at $2 billion, pending foreign investment approval, to speed global expansion.

Also Forbes Australia·TechCrunch Australia·SmartCompany·proactiveinvestors.com·Startup Daily·SmartCompany·Startup Daily·SmartCompany·Startup Daily·SmartCompany·Startup Daily·Startup Daily·Startup Daily·employmenthero.com·employmenthero.com·Forbes Australia·Crunchbase News