Humanforce, a Sydney-based global provider of workforce management (WFM) and payroll solutions, today announced the completion of its acquisition of intelliHR, a fellow Australian-born HR tech SaaS company.
The takeover deal, worth over AUD$77 million, is Humanforce’s third acquisition since receiving capital investment in May 2022 from leading technology-focused private equity firm Accel-KKR.
Founded in 2013, intelliHR is a best-of-breed, intelligent people platform that drives employee engagement, performance and retention, and is underpinned by a rich layer of AI-powered workforce 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.
Clayton Pyne, Chief Executive Office of Humanforce said, “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”.
Humanforce’s acquisition of intelliHR unlocks new and exciting opportunities for its customers, with access to an unparalleled combination of tools and data, enabling intelligent data-driven decision making. intelliHR is a fully featured human capital management (HCM) platform, giving customers Onboarding, Core HR, Compliance and Workflows, Learning and Performance Management, Employee Engagement and People Analytics, in addition to Humanforce’s best-of-breed WFM and Payroll solution.
Humanforce’s acquisitions of intelliHR, and Wagestream Australia earlier this year, propels Humanforce into unrivaled territory for frontline and flexible workforces, having launched Humanforce Thrive – a mobile app offering wellbeing perks and benefits to employees. Thrive is every employer’s nirvana – meeting the needs of the business through fulfilling the needs of their employees. Thrive delivers earned wage access, financial wellness education, cash back programs and discounts. It is a foundational step in Humanforce’s aspiration to assist customers with the attraction, retention and assessment of staff, by helping facilitate the curation of available labour pools to ensure best-fit match of talent to demand in the roster.
“We remain laser-focused on continuous innovation for people management by bringing a modern, employee-centric solution to frontline and flexible workforces, which places the employee experience and talent at the core.”, Pyne added.
Humanforce wants to play a critical role in helping customers not only improve productivity, optimise costs and realise compliance confidence, but also help them strengthen their employee value proposition (EVP) in order to attract, engage and retain talent in an extremely tight labour market.
Humanforce continues its focus on mid-market and enterprise businesses in their core industries of care (aged, child and clinical), sports, leisure, hospitality and retail among others, to accelerate its momentum with its evolving, best-of-breed HCM platform.
“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. 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.”
Joe Porten, Managing Director at Accel-KKR and Humanforce board member said, “intelliHR’s focus on innovative products aligns well with Humanforce’s vision of a modern, employee-centric solution that businesses can’t live without. We believe the capabilities that Humanforce is investing in are increasingly mission-critical for businesses, evidenced by growing market demand for AI-powered people technologies that help companies effectively manage and engage their workforce in an increasingly challenging labour market.”
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