KKR has announced its acquisition of a stake in Employment Hero, a leading global employment management platform, from SEEK Investments. The SEEK Growth Fund will remain a significant investor in the company. The transaction, expected to close in the first quarter of 2025, marks KKR’s latest technology growth investment in Australia, aligning with its strategy to support small and medium business (SMB) software.

Founded in 2014, Employment Hero provides HR management, payroll, recruitment, and employee engagement tools to over 300,000 small and medium-sized enterprises worldwide. The investment follows Employment Hero’s acquisition of Canadian employment platform Humi in January and its surpassing of A$250 million in annual recurring revenue.

KKR will invest through its Asia Next Generation strategy, which has backed several technology-driven businesses across the Asia-Pacific region, including SmartHR in Japan, GrowSari in the Philippines, and Privy in Indonesia. The deal is expected to support Employment Hero’s continued platform expansion and international growth.

Ben Thompson, CEO and Co-Founder of Employment Hero, expressed enthusiasm for KKR’s involvement, emphasizing the firm’s expertise and resources in advancing Employment Hero’s global reach. SEEK Investments Executive Chairman Andrew Bassat reaffirmed the fund’s long-term commitment to the company’s growth strategy.

The transaction underscores KKR’s focus on technology-driven business enablement and its commitment to expanding its footprint in the Australian market.