Funding announcement
Neara joins the billion-dollar club with $90 million Series D
Australian grid digital-twin startup Neara raised a $90 million Series D led by TCV, reaching unicorn status amid rising data centre power demand.
Venture capital fund · 5 deals
TCV
Disclosed deals
Every published round TCV took part in, and every parcel of existing shares it bought off another holder. Deals we hold but haven't published yet are not counted.
Portfolio
Companies TCV has backed in a published round, and companies whose existing shares it bought off another holder.
| Company | What it does | First invested | Rounds | Led |
|---|---|---|---|---|
| Employment Hero | 19 Oct 2023 | 2 | 1 | |
| Neara | 11 Feb 2026, Series D+ | 1 | 1 | |
| Siteminder | 2014, Series B | 2 | 0 |
Funds
Fund closes reported for TCV, as distinct from the investments it has made.
Portfolio companies acquired
Companies TCV has backed that another company then bought. An exit for the holding, not a deal TCV did.
People
| Name | Role | Sources |
|---|---|---|
| Muz Ashraf | General Partner | RenewEconomy (Tue 10 Feb 2026), RenewEconomy (Tue 10 Feb 2026), Startup Daily, SmartCompany, proactiveinvestors.com |
Coverage
Stories naming TCV. Where several outlets covered the same round, they are bundled under whichever ran the fullest account.
Funding announcement
Energy grid digital twin platform Neara turns unicorn with $90 million Series D
Australian grid-modelling startup Neara raised a $90 million Series D led by TCV, valuing the company above $1 billion, funding ML and expansion.
15 deals
Cheque-in: 10 ANZ startups raised nearly $193 million this week
Weekly roundup of ten Australian and New Zealand startup raises totalling nearly $194 million, topped by Neara's $90 million round at a $1.1 billion valuation, with Splose, Operata, HAMR Energy and Adora also covered.
4 deals
Neara powers up to unicorn status with $90 million capital raise
Neara joins the unicorn club after a TCV-led $90 million Series D at a $1.1 billion valuation, with existing backers participating; funds will fuel global expansion and engineering hires.
Series D+
$263m
After buying the founder's own business for $43 million, Employment Hero spends another $112m on a Canadian rival
Employment Hero acquires Canada's Humi for $112m and, filings show, paid $43.4m for Ben Thompson's Employment Innovations; the story also recalls its 2023 Series F and investor clash.
12 deals
The 10 biggest capital raises by Australian startups in 2023
A year-end SmartCompany roundup counting down 2023's ten largest Australian startup raises, headed by Employment Hero's $263m Series F, with investor details and commentary on fewer mega-rounds and continued under-representation of women co-founders.
3 deals
Sydney VC OneVentures turns $8.8 million Employment Hero investment into $116m
OneVentures realised $116.2 million selling its Employment Hero stake in a secondary deal, and its managing director Michelle Deaker is leaving the HR platform's chair role while staying on the board.
10 deals
Cybersecurity Sector Leads For New Unicorns In October, With Zero From Silicon Valley
Crunchbase's October 2023 unicorn board update: nine newcomers led by two cybersecurity firms, with Sydney's Employment Hero reaching unicorn status, Shield AI revalued upward, and Convoy and Olive AI shutting down.
Also Crunchbase News
2 deals
Series F News: Employment Hero raises $263 million to take its mission global
Blog announcement of Employment Hero's 263 million Australian dollar Series F, with TCV leading and Insight Partners, AirTree, Seek and OneVentures also participating; the post also unveils the Hero Foundation.
Also Tech Funding News - Australia·TechCrunch Venture·SmartCompany·Startup Daily·Techboard·SmartCompany·Startup Daily·Forbes Australia·Forbes Australia·employmenthero.com·TechCrunch Venture
3 deals
Series F News: Employment Hero raises $263 million to take its mission global
Press release announcing Employment Hero's A$263 million Series F led by TCV, with earlier backers participating, a valuation just under $2 billion, AI-focused global expansion plans, and a look back at the KeyPay acquisition.
Also Tech Funding News - Australia·TechCrunch Venture·SmartCompany·Startup Daily·Techboard·SmartCompany·Startup Daily·Forbes Australia·Forbes Australia·employmenthero.com·TechCrunch Venture
9 deals
Eight Aussie startups that raised $433 million this week
Roundup of eight Australian startup raises totalling $433m, topped by Employment Hero's $263m Series F and Skykraft's $120m round; Darwinium, Konvoy Kegs, The Martec and three Birchal crowdfunds complete the week.
Also AgFunderNews
6 deals
Employment Hero hits $2 billion valuation after whopping $263 million Series F
Employment Hero raised a $263 million Series F led by TCV, reaching a $2 billion valuation, with existing backers reinvesting; Skykraft announced a $120 million raise.
3 deals
Employment Hero raises $263 million in record Australian private software funding round
Australian HR software firm Employment Hero has banked a large Series F led by US investor TCV, lifting its valuation towards $2 billion, with several existing backers also taking part.
5 deals
From zero to Employment Hero
Sydney HR-and-payroll firm Employment Hero announced a TCV-led Series F reaching unicorn valuation; the profile covers its products, remote workforce and global ambitions, citing rival raises.
Also Tech Funding News - Australia·TechCrunch Venture·SmartCompany·Startup Daily·Techboard·SmartCompany·Startup Daily·Forbes Australia·Forbes Australia·employmenthero.com·employmenthero.com
2 deals
HR 'double unicorn' Employment Hero valued at $2bn after $263 million raise
Employment Hero has landed a $263 million Series F with TCV at the helm, pending foreign investment sign-off, valuing the HR software firm at $2bn.
Also Tech Funding News - Australia·TechCrunch Venture·SmartCompany·Startup Daily·Techboard·SmartCompany·Startup Daily·Forbes Australia·employmenthero.com·employmenthero.com·TechCrunch Venture
2 deals
Employment Hero valued at $2bn after $263 million raise
HR platform Employment Hero announced a Series F of $263 million with TCV leading, valuing the company at $2 billion, pending foreign investment approval, to speed global expansion.
Also Tech Funding News - Australia·TechCrunch Venture·SmartCompany·Startup Daily·Techboard·SmartCompany·SmartCompany·Startup Daily·SmartCompany·Startup Daily·SmartCompany·Startup Daily·SmartCompany·Startup Daily·Startup Daily·Startup Daily·Forbes Australia·proactiveinvestors.com·employmenthero.com·employmenthero.com·Forbes Australia·TechCrunch Venture·Crunchbase News
Unnamed stage
$170m
Mambu raises AUD$170 million in funding round, achieves unicorn status
Banking software firm Mambu announced a 110 million euro round led by TCV, with Tiger Global and Arena Holdings joining, lifting its valuation to 1.7 billion euros and unicorn status.
3 deals
SiteMinder becomes latest Aussie unicorn, with $1.1 billion valuation
SiteMinder raised from BlackRock at a $1.1 billion valuation, becoming Australia's first unicorn of 2020, joined by AustralianSuper, Ellerston and Pendal; Bailador reported a partial stake sale.
2 deals
How do Australian startups tap into the $140 billion of dry powder sitting in the US?
A Bailador partner advises Australian founders on attracting US venture capital, citing past raises by Canva, SafetyCulture, Culture Amp, SiteMinder and Instaclustr from American investors.