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HR start-up Employment Hero lands ANZ deal
Wed 8 February 2017 - 3:01 pmIndustry | Industry Finance | Startup
Sydney start-up Employment Hero has secured a partnership with ANZ that will enable it to increase the number of businesses on its cloud-based HR automation platform.
The deal will see ANZ provide free Employment Hero licences to its small business customers to help them better manage HR processes, improve business efficiency and reduce the risk of breaching employment law.
The partnership follows on from Employment Hero’s recent success with fund raising. In November, the three-year-old start-up closed an over-subscribed Series A round, after drawing a 1.5 million investment from Airtree Ventures, OneVentures and AMP New Ventures. This brought its total funding to $4.5 million.
Commenting on the deal, Employment Hero founder and CEO, Ben Thompson said, “It takes 100 pages of paperwork to on-board an employee, this is often then sent by mail and stored in manila folders – a huge waste of resources and time We remove all this paperwork, sending the right information to the right parties in a secure real-time environment.”
“Our goal is to support 10,000 individual businesses by 2020. The ability to deliver Employment Hero to business owners through ANZ’s business bankers and their many other distribution channels is really exciting.”
Thompson told Dynamic Business that the deal with ANZ made sense due to a ‘strong alignment between the two businesses’ and that finalising it involved ‘a lot of hard work and due diligence from both parties’.
“We are very excited to be working with ANZ but we see the opportunity to partner with a range of other institutions who are aligned with our goal of making employment easier to manage and more rewarding,” he said “We also expect to complete a further capital raise at some stage.”
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