Employment Hero Becomes a Unicorn with £96 Million Funding and KeyPay Acquisition

Employment Hero, a cloud-based HR, payroll, and benefits management platform, has raised £96 million in funding, reaching a valuation of over $1 billion

The round was led by SEEK Investments with participation from OneVentures, AirTree Ventures, and other shareholders

The company plans to grow exponentially in the UK, introducing new services and increasing market share

In addition to the funding, Employment Hero has acquired KeyPay, a workforce management and payroll solution

This acquisition expands Employment Hero's suite of total employment management solutions and increases its reach to over 12,000 SMEs in the UK, managing over 120,000 employees

KeyPay will continue to operate as an independent brand.