Eucalyptus Exit: $1.15B Deal, CEO Moves to US Parent
Australian telehealth platform Eucalyptus sold to NYSE-listed Hims & Hers for up to $1.15 billion (A$1.6 billion). The deal includes $240 million upfront cash, deferred payments, and earnouts through 2029. Expected close: mid-2026.
The numbers: Eucalyptus hit $450 million annual revenue run-rate with 775,000 customers across Australia, UK, Germany, and Japan. Triple-digit ARR growth in 2025 quarters. Previous valuation: A$520 million in April 2023.
CEO Tim Doyle transitions to SVP International at Hims & Hers, overseeing global operations. The move gives Hims category leadership in Australia plus expansion into Japan, Canada, UK, and Germany.
Sales angle: No specific team size or CRO details disclosed, but the acquisition strengthens commercial partnerships for scaled distribution. Worth watching for international AE and AM hires as Hims expands into ANZ.
WiseTech Replaces 2000 Coders With AI
Logistics giant WiseTech Global cut 2000 coding jobs, shifting work to AI. The cuts follow broader 2024-2025 tech layoffs that hit sales teams across ANZ startups as VC funding dried up.
Context: Startup funding cuts in 2024 forced multiple hiring freezes and layoffs. WiseTech's move signals a broader trend: AI replacing roles, not just augmenting them. Sales teams at tech companies should watch for similar efficiency plays.
Quick Hits
Canva acquisitions: The design unicorn bought two more startups (UK and US animation/AI companies). No sales team details disclosed.
UpGuard Series C: Tasmanian cybersecurity scaleup raised $105 million. Expect enterprise AE hiring in Melbourne and Sydney.
SafetyCulture: Founder Luke Anear returns as CEO for AI platform rebuild. Potential sales team restructure ahead.
What It Means
Eucalyptus proves ANZ telehealth can scale to nine-figure exits. WiseTech's AI cuts show where the market is heading: fewer junior roles, more automation. For sales professionals: watch for enterprise AE opportunities at growth-stage ANZ startups chasing similar exits.