KKR agreed to acquire a stake in Employment Hero, a fast-growing employment management platform, from SEEK Investments.

The transaction, set to close in the first quarter of 2025, strengthens Employment Hero’s global expansion strategy while allowing SEEK Investments to maintain a significant stake in the business.

Founded in 2014, Employment Hero provides small and medium-sized enterprises with an end-to-end platform for HR, payroll, recruitment, and employee engagement. The company now serves over 300,000 businesses worldwide and recently surpassed A$250m in annual recurring revenue.

KKR’s investment aligns with its broader growth equity strategy in Australia, where it has backed businesses such as Advanced Navigation and other technology-driven platforms across Asia-Pacific. Mukul Chawla, Partner and Head of Asia Pacific Growth Equity at KKR, said the firm aims to support Employment Hero’s platform development and global reach, particularly in markets like Australia, the UK, and Canada.

For Employment Hero, this investment follows its recent acquisition of Canadian employment platform Humi in January. CEO and Co-Founder Ben Thompson emphasized the company’s commitment to making employment more efficient and valuable, highlighting its role in supporting job creation and economic growth.

SEEK Investments, which has backed Employment Hero as a long-term investor, reaffirmed its confidence in the company’s outlook. Andrew Bassat, Executive Chairman and CEO of SEEK Investments, said the firm looks forward to working alongside KKR to accelerate Employment Hero’s expansion.

KKR is making this investment through its Asia Next Generation strategy, which focuses on technology-driven business solutions. The deal reflects KKR’s ongoing commitment to supporting high-growth software companies in the region.