Flare, based in Australia, provides HR, benefits and management services, onboarding, contract management, compliance, and payroll processing services. The software is offered for free with no ongoing costs for users.
As of November 2020, the platform has more than 650,000 users across 2,500 businesses. Its clientele includes companies such as Deloitte and Nissan.
Flare raised AUD 22 million (approximately USD 16 million) in Series C funding led by MYOB (an Australian ERP and payroll software provider). The round also included participation from Point72 Ventures and Acorn Capital. Individual investors in the round included former Australian Prime Minister Malcolm Turnbull, who will take up an advisory role in the company.
The fresh capital will be used to grow its offering to include financial products and expand its reach to the small and medium enterprise segment.
In addition, the company announced it has entered into a partnership with MYOB to deliver its software for MYOB’s small and medium enterprise (SME) clients by the end of the year and its enterprise customers in 2021.
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