Australian tech firm plots Euro expansion
Australian tech firm Humanforce is to scale its global operations following investment from Silicon Valley equity house Accel-KKR.
The Sydney-based global provider of workforce management solutions has secured £12.25 million in growth equity investment and will use the funding to rapidly expand its operations in Europe, Asia and North America.
Humanforce is a SaaS workforce management solution for contingent workforces that includes HR, time and attendance, rostering, employee availability and payroll data to manage and engage employees.
“With companies rapidly leveraging flexible talent Humanforce is leading the charge in the gig-economy as contingent workforces become mainstream,” said Accel-KKR Principal Joe Porten, who will join the board of Humanforce.
“Managing this type of workforce presents unique challenges that legacy technology vendors aren’t built to solve.
“Humanforce is uniquely positioned to serve the gig-economy and capture a disproportionate share of the market as its solutions were purpose built with these challenges in mind.
“Our growth equity investment will help the company’s operations scale to take advantage of this opportunity.”
Accel-KKR’s funding comes to Humanforce on the heels of several consecutive years of accelerating subscription revenue growth and new customer acquisitions. During this time the company successfully transitioned to a SaaS model with sustained profitability and growth.