Workforce management and payroll solutions provider, Humanforce, has completed the acquisition of fellow Australian-born HR tech SaaS company, IntelliHR, for $77 million. The acquisition unlocks opportunities for Humanforce customers by granting them access to a combination of tools and data for intelligent decision-making.
Fully-featured HCM platform
IntelliHR offers a fully-featured human capital management platform with various tools for HR management, compliance, learning, performance management, employee engagement, and people analytics. This acquisition provides Humanforce customers with access to cutting-edge technologies that can help drive business outcomes. Additionally, Humanforce will leverage IntelliHR’s experience and expertise in people management to help its customers improve their business operations and grow their workforce.
Humanforce makes third acquisition
This is Humanforce’s third acquisition since receiving capital investment in May 2022 from technology-focused private equity firm Accel-KKR. The previous acquisitions were Wagestream Australia and Ento. This latest acquisition demonstrates Humanforce’s commitment to expanding its capabilities and offerings in the human capital management space.
Impressed by intelliHR’s success
Humanforce CEO, Clayton Pyne, is impressed by IntelliHR’s success in developing a superior people-focused technology platform that delivers rich data insights and powerful analytics. “We are incredibly impressed by IntelliHR’s momentum and success to date, which stems 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,” Pyne said.
Launch of Humanforce Thrive
In addition to the acquisition of IntelliHR and Wagestream Australia earlier this year, Humanforce also launched Humanforce Thrive, a mobile app offering wellbeing perks and benefits to employees. With this latest acquisition, Humanforce is further differentiating itself from competitors by providing holistic tools for employee engagement and wellbeing.
Making Work Easier and Life Better for Frontline and Flexible Workers
“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,” Pyne stated.
Continued focus on innovation
Humanforce remains focused on continuous innovation for people management, providing a modern, employee-centric solution that places the employee experience and talent at the core. With intelliHR’s capabilities in people analytics and performance management, Humanforce can now further enhance its offerings in these areas.
Investment in AI-powered people technologies
Accel-KKR Managing Director Joe Porten believes that Humanforce’s investment in AI-powered people technologies is increasingly mission-critical for businesses to manage and engage their workforce effectively in challenging labor markets. “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 that the capabilities Humanforce is investing in are increasingly mission-critical for businesses, as evidenced by growing market demand for AI-powered people technologies that help companies manage and engage their workforce effectively in an increasingly challenging labor market,” said Porten.
The Importance of Investing in AI-Powered People Technologies
Humanforce Board Member and Accel-KKR Managing Director, Joe Porten, stressed the importance of investing in AI-powered people technologies to help businesses succeed in today’s market. With the combination of Humanforce and intelliHR’s cutting-edge technologies and expertise in people management, businesses can make data-driven decisions, maximize employee engagement, and make work more accessible to frontline and flexible workers.
Humanforce’s acquisition of intelliHR for $77 million is a significant move for the global workforce management and payroll solutions provider. With the addition of intelliHR’s capabilities in people analytics and performance management, Humanforce can provide a more comprehensive suite of solutions to its customers. This acquisition also furthers Humanforce’s mission to make work easier and life better for frontline and flexible workers around the world. With the increasing importance of investing in AI-powered people technologies, Humanforce is poised to meet the growing demand for innovative solutions that can help businesses succeed in today’s market.