JWS advises Employment Hero on ~A$263 million Series F capital raise

people walking in modern office

Leading independent law firm, Johnson Winter Slattery has advised Employment Hero on its ~A$263 million Series F equity capital raise, taking Employment Hero’s valuation to around A$2 billion. This is the largest capital raising of the year for an Australian privately-owned software company.

The transaction was led by a new investor, global fund Technology Crossover Ventures (TCV), and supported by multiple existing investors, highlighting the interest Employment Hero attracts in the market.

JWS advised Employment Hero on the entire capital raising process, including transaction structuring and negotiation and preparation of all transaction documents. The deal is subject to Foreign Investment Review Board (FIRB) approval.

Partner Marko Komadina led the JWS team on the transaction, supported by Associates LuAnna Han and Ben Wilson. Partner Prashanth Kainthaje advised on the tax aspects of the transaction.

Marko Komadina said, “It has been a privilege advising Employment Hero on its capital raisings over the last few years, including most recently its Series F round, which has made it a unicorn twice over.”

Founded in 2014, Employment Hero is a market-leading people management and employment software company. It is one of Australia’s fastest-growing SaaS companies and also has operations in New Zealand, the UK, Malaysia and Singapore.

The JWS team has advised Employment Hero on its Series D (A$45m), Series E (A$140m) and Series E extension (A$181m) capital raises as well as its strategic acquisition of cloud-based workforce management and payroll platform, KeyPay.


About Johnson Winter Slattery

JWS is a leading independent Australian law firm engaged by major corporates and investment funds on their most challenging transactions and disputes.


Media contacts

Angela Welsh
Marketing & Communications Manager
T: +61 2 9392 7454 | M: +61 414 281 902
E: angela.welsh@jws.com.au

Maureen Grose
Marketing & Business Development Director
T: +61 2 8247 9697 | M: +61 447 004 445
E: maureen.grose@jws.com.au


Important Disclaimer: The material contained in this article is comment of a general nature only and is not and nor is it intended to be advice on any specific professional matter. In that the effectiveness or accuracy of any professional advice depends upon the particular circumstances of each case, neither the firm nor any individual author accepts any responsibility whatsoever for any acts or omissions resulting from reliance upon the content of any articles. Before acting on the basis of any material contained in this publication, we recommend that you consult your professional adviser. Liability limited by a scheme approved under Professional Standards Legislation (Australia-wide except in Tasmania).