Australian tech firm Humanforce is to scale its global operations following聽investment from Silicon Valley equity house Accel-KKR.
The Sydney-based global provider of workforce management solutions has secured 拢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.
鈥淲ith companies rapidly leveraging flexible talent Humanforce is leading the charge in the gig-economy as contingent workforces become mainstream,鈥� said Accel-KKR Principal Joe Porten, who will join the board of Humanforce.
鈥淢anaging this type of workforce presents unique challenges that legacy technology vendors aren鈥檛 built to solve.
鈥淗umanforce 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.
鈥淥ur growth equity investment will help the company鈥檚 operations scale to take advantage of this opportunity.鈥�
Accel-KKR鈥檚 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.