The purchase of the Toronto-based firm, which helps businesses manage payroll, benefits and human resources, will help Employment Hero, which has a similar business model, expand into the North American market. (The Logic)
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The purchase of the Toronto-based firm, which helps businesses manage payroll, benefits and human resources, will help Employment Hero, which has a similar business model, expand into the North American market. (The Logic)
Talking point: The acquisition is part of an international expansion effort by Employment Hero, last valued at US$1.28 billion in 2023, according to PitchBook. That effort suffered a setback in November, when the company laid off staff and scaled back its plan to expand into Southeast Asia, according to Australian publication Capital Brief. Employment Hero reportedly made the move to focus on its SmartMatch platform, which uses AI to streamline the job search process. The latest deal will help Humi develop new products and add more Canadian customers, the company said in a release. Humi raised a $31 million debt and equity Series B round in 2022, telling BetaKit at the time that the number of employees using its platform had grown fivefold since 2019.
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