Definitiv, has recently secured a seven-figure deal for a minority equity stake, with private company, BoardRoom Pty Ltd.
Founded by Chief Executive, Roy Mellon, Definitiv is an enterprise cloud-based employee management platform.
Launched in October 2016, the agile, user-friendly platform already supports over 130 businesses and manages over $600 million in transactions, less than 15 months into its operation.
With clients across 24 industries, including a top 10 listed ASX entity, Definitiv has shaken up the payroll and HR software market in Australia.
Mr Mellon says Definitiv’s fast growth is purely down to the platform’s uniqueness and unequalled performance, while carefully balancing the user experience.
“Before Definitiv, businesses had two options when it came to Payroll and HR solutions; a user-friendly software with very limited capability or a highly customised solution designed by a team of software developers that required a significant investment for the lifetime of the product.”
“We have been able to bridge the gap for clients between functionality and usability offering a competitive alternative to the traditional king and queen; SAP or Oracle”
Definitiv initially attracted interest from BoardRoom last year and BoardRoom’s Chief Executive Officer, Rhett Tregunna was impressed with Definitiv’s capabilities and functionality compared to other payroll providers in the market.
Mr Tregunna said, “After researching the market, we felt that Definitiv represented an exciting opportunity due to its integrated software solution capabilities, technological innovation and service offering.”
“While other providers were focusing on identifying the new value add-on or partners to differentiate themselves, we felt that Definitiv was the only platform developing technology to address actual issues facing the complexities in the Payroll and HR industry.”
“The investment into Definitiv compliments Boardroom’s service offering across our core payroll and employee equity plan portfolio via the use of cutting edge technology and emphasis on end user experience.”
Mr Mellon said, “This is an exciting time for the business and as we grow, we will be employing more staff and helping businesses transform the way they do payroll.”
“The partnership with BoardRoom has really opened doors for us, with an immediate national footprint in Sydney, Melbourne and Brisbane; plus leveraging BoardRoom’s international presence and large client pool, we will be using this to our full advantage to grow Definitiv’s market share.”