Flare, a Sydney, Astralia-based HR and payroll technology company, secured $21m in Series B funding.
The round was led by Point72 Ventures, with participation from Australian funds Acorn Capital, Tank Stream Ventures, Reinventure and BridgeLane. In conjunction with the funding, Point72 partner Pete Casella will join the board of Flare.
The company intends to use the funds to contribute to the local growth of its onboarding, fully-integrated HR and payroll product suite, and expand its financial wellness and benefits platform.
Co-founded by Dan Cohen, Managing Director, James Windon, Managing Director, Saul Kaplan, CTO, and Colin Mierowsky, Solutions Architect, Flare provides an all-in-one cloud based HR, Onboarding, Financial Wellbeing and Payroll platform.
Since its last major investment of $7m in August 2017, the company has doubled its customer base to over 200 clients, with the platform currently used by over 100,000 employees across Australia.