Two Australian human resources technology providers have joined forces as Humanforce buys IntelliHR in a deal worth $77 million.
The deal marks Sydney-based Humanforce’s third acquisition since receiving funding in May 2022 from private equity firm Accel-KKR, which include Ento and Wagestream Australia.
Specialising in workforce management, Humanforce claimed the fellow software-as-a-service provider intelliHR will “unlock new and exciting opportunities for its customers”.
"We are incredibly impressed by intelliHR's momentum and success to date, stemming from the development of a superior people-focused technology platform that provides rich data insights and powerful analytics for HR and business leaders. We look forward to welcoming intelliHR employees and customers to the Humanforce family,” said Clayton Pyne, Humanforce CEO.
Founded in 2013 and based in Brisbane, intelliHR provides a people platform that uses analytics and a single system of record (Core HR).
intelliHR is designed to help businesses make intelligent people decisions through real-time, proactive and data-rich insights about their employees.
Humanforce said it is now focused on mid-market and enterprise businesses in core industries of care, sports, leisure, hospitality and retail among others.
"We're incredibly grateful to have such a strong partnership with and investment from Accel-KKR, which has allowed us to accelerate our growth over the past year with strategic acquisitions of Ento, Wagestream Australia and now intelliHR,” Pyne added.
“Bringing Humanforce together with these complementary, world-class people management solutions, builds on the depth and breadth of our platform and allows us to deliver on our mission of making work easier and life better for frontline and flexible workers around the world."