HR STRATEGY
HireRoad | August 23, 2022
HireRoad, a leading provider of cloud-native end-to-end talent management and insight software, today announced the acquisition of PeopleInsight, a provider of powerful yet intuitive workforce analytics software. PeopleInsight's technology seamlessly ingests, normalizes, and correlates data from any HR system, making it easy for customers to analyze data across all their HR systems in one place. By unifying data across numerous systems, users are able to uncover previously hidden insights that their companies can use to make timely and informed decisions.
PeopleInsight's out-of-the-box solution quickly and effortlessly connects all relevant HR, talent, and people data sources, including Workday, Oracle, HireRoad, Taleo, ADP, SAP Successfactors, Greenhouse, Jobvite, and even home-grown solutions to deliver a configurable HR data cloud, personalized to the customer's specific needs and business priorities.
The acquisition of PeopleInsight further enhances the value of HireRoad's modern and highly automated talent management platform by both adding advanced data analytics features to the core platform and allowing customers to pull in data from other third-party systems to access new insights. This acquisition comes on the heels of other exciting news at HireRoad including a global rebranding that occurred earlier this year and the launch of the company's talent management platform in Australia and New Zealand last month.
"Analytics continue to be a challenge for HR professionals, especially in mid-sized organizations, They often don't have the resources for a data warehouse and a dedicated staff to perform analyses, yet they have the same desire for actionable data and many of the same complex business needs as larger organizations."
-Otto Berkes, CEO of HireRoad
PeopleInsight's founders, CEO John Pensom, COO Steve Johnson, and VP Lynne Russell have always been passionate about the power of data and the value it can create when harnessed properly. By unifying data from disparate HR technologies, we allow decision-makers to spend time analyzing information and planning for the future rather than translating data and making spreadsheets, We are delighted to expand access to our platform on a global scale. In HireRoad we have found a great partner for the next chapter of our company's journey,Pensom said.
We have been impressed with PeopleInsight's approach in supporting their customers and delivering exceptional service, and we are excited to join forces with their talented team as we accelerate our global work together, said Berkes, who has a track record of creating transformational products including the Xbox and HBO Go.
The acquisition of PeopleInsight marks HireRoad's third acquisition since Strattam Capital's majority investment in 2018 to add novel functionality to the company's platform and accelerate growth.
About HireRoad
HireRoad is a leading provider of cloud-based talent management software that changes the definition of "being hired" to include everything on the journey from job posting to job success. The company's innovative software, developed by veteran industry experts, provides you the ability to attract, hire, onboard, and train the right people so they thrive in your organization.
About PeopleInsight
PeopleInsight is a multi-source people analytics platform built to unify a company's disparate sources of HR, talent, people and productivity data. Founded in 2012, PeopleInsight accelerates data-driven HR at a fraction of the cost, time and risk of an in-house build.
About Strattam Capital
Strattam Capital invests in founder-led independent B2B software and technology companies across North America. We believe in aligning with founders and CEOs before signing, via their Five-Point Plan process to allow execution with purpose, excitement, and efficiency.�� Headquartered in Austin, TX, we connect companies with the people, process, and scale needed to reach their potential.
Read More
HR PRACTICE,HR STRATEGY
Wagepoint | August 10, 2022
Canadian fintech company Wagepoint is doubling-down on its mission to bring happiness to small businesses and their teams with a new acquisition. KinHR – soon to become People by Wagepoint – has joined Wagepoint's family of products, which will create a single solution that takes payroll, time and attendance and (now) human resources tasks off small business owners' hands so that they can get back to doing literally anything else.
KinHR is known as a simple, friendly and reliable people management software among its 4,500 global users. This makes it the perfect puzzle piece to complete Wagepoint's stack of small business products, offering everything CEOs and founders need to take care of their people right from the moment they're hired.
People by Wagepoint will offer features like an employee directory, time-off management, new hire onboarding, document storage and eSignatures, in addition to ongoing employee performance management tools like employee objectives and reviews. The product will help make workplace operations easier, and maybe even a little "sweeter", for both employers and their teams.
"Payroll and HR go together like summer and popsicles – minus the sticky fingers!, When done right – that is, with a focus on keeping it simple and truly caring about the human experience – both payroll and HR can contribute to a happy workplace, just like ice cream! We're excited to welcome People by Wagepoint to our family of products. Now, we can help our customers create a delightful experience for their employees, right from the moment of hire and at every touchpoint that follows."
- Shrad Rao, CEO of Wagepoint
Delighting customers will remain a key pillar as the company moves forward with the rebrand and builds a team around People by Wagepoint.
Both Wagepoint and KinHR have a Capterra rating of 4.6 out of 5 by their users – notably, for friendly customer support – and the new product will continue building on that trust, says Melissa Benzo, former Director at KinHR and current Director of People by Wagepoint.
KinHR has always been about creating a simple approach to HR software so that small businesses can focus more on their employees and their business, rather than the management of 'stuff' that comes with HR. Wagepoint is just the company to continue that effort and expand on that idea by keeping all things light, friendly, and simple, I always tell KinHR customers 'we're here to help,' and I feel that echoed throughout the entirety of Wagepoint,says Benzo.
People by Wagepoint is the second small business software to be acquired by Wagepoint in 2022. Earlier this year, Timesheet Mobile joined the Wagepoint family and will soon be available to customers for all of their time and attendance needs, rebranded as Time by Wagepoint.
About Wagepoint
Wagepoint is a small-but-mighty fintech company on a mission to simplify payroll – and maybe even dare to make it delightful! Our online software was created just for small businesses, automating the most "ugh" parts of payroll – like calculating wages and reporting on taxes – so that our customers can get back to doing, well, literally anything else. Backed by the world's friendliest team, Wagepoint is always supportive, never stuffy and refreshingly human. Founded in 2012, we make payroll magic happen for more than 20,000 small businesses, accountants and bookkeepers across North America.
Read More
TALENT ACQUISITION
Radancy | July 21, 2022
Radancy, the global leader in enterprise software and services solutions for end-to-end talent sourcing, today announced it has partnered with New Mountain Capital, a leading growth-oriented investment firm with over $37 billion in assets under management. The investment from New Mountain Capital will allow Radancy to accelerate its software product roadmap and expand its suite of services focused on helping enterprises optimally identify, engage, and hire talent. Existing investor Gemspring Capital will remain a minority investor in the company.
Talent acquisition is a mission-critical function for every company, but finding the 'right' talent, in the most efficient way, at scale, is increasingly challenging in the 'new' world of work. Radancy provides a best-in-class, global, cloud-based technology platform and consultative services that automate the recruitment process and provide a premium, personalized candidate experience, enabling customers to find the talent they need to support their business objectives.
Adoption of AI-based technology solutions to improve how companies identify, engage, and hire talent has been rapidly accelerating. Companies are increasingly looking for advanced career site platforms that offer a personalized and seamless job search experience, data-driven programmatic advertising technology to increase media ROI, candidate relationship management (CRM) solutions to track and engage with proprietary talent pools, and automated employee referral software to activate existing employee networks. Radancy's unified platform is built as a holistic solution for all these needs.
"The world of work is undergoing massive change and enterprises need to adapt in order to remain competitive in the 'war for talent', We are seeing tremendous demand from companies who are going through a fundamental shift from legacy talent acquisition operating models, involving manual processes and ad hoc tools, to a more integrated approach, leveraging Radancy's end-to-end talent sourcing platform. This is an exciting time in our evolution and we are confident that New Mountain's industry expertise and proven track record of business building will help us accelerate our roadmap and continue to deliver greater value for our clients."
-Michelle Abbey, CEO of Radancy.
Radancy has proven themselves as a leader in the market, bringing a fully integrated technology stack with data and AI-driven solutions to help companies optimize their talent sourcing efforts, said Lars Johansson, Managing Director at New Mountain Capital. We look forward to partnering with Radancy for the next phase of growth as they continue to transform the world of talent acquisition. We see many avenues for growth ahead and look forward to building on the team's impressive track record of success.
Radancy has an outstanding track-record as a trusted partner to its clients, serving many of the most respected employers in the world, and is well-positioned to continue to be at the forefront of the digital transformation of the talent acquisition function, added Sean Donovan, Director at New Mountain Capital.
"Since our investment in 2018, Radancy has furthered its position as the market leader in enterprise talent sourcing solutions, building the industry's leading end-to-end technology platform, all while maintaining an exceptional commitment to customer success, We are excited about the continued partnership with Radancy and believe that New Mountain will be a great partner for the business in driving further success."
-Ravdeep Chanana, Managing Director at Gemspring Capital.
Radancy and Gemspring Capital were advised by Lazard as financial advisor and McDermott Will & Emery as legal counsel. Jefferies and Piper Sandler acted as financial advisors and Ropes & Gray served as legal counsel to New Mountain Capital.
About Radancy-
Radancy is the global talent technology leader intelligently solving the most critical challenges for employers and delivering results that strengthen their organizations. Radancy's unified platform, augmented by rich data and deep industry expertise, is revolutionizing how employers attract and hire the talent they need. Radancy's unified software platform includes a market-leading, integrated suite of technology solutions, including a best-in-class career site platform, programmatic advertising technology, candidate relationship management platform, and employee referrals software. For more information, visit www.radancy.com.
About New Mountain Capital-
New Mountain Capital is a New York-based investment firm that emphasizes business building and growth, rather than debt, as it pursues long-term capital appreciation. The firm currently manages private equity, public equity and credit funds, with over $37 billion in assets under management. New Mountain seeks out what it believes to be the highest-quality growth leaders in carefully selected industry sectors and then works intensively with management to build the value of these companies. To learn more, visit www.newmountaincapital.com.
About Gemspring Capital-
Gemspring Capital, a Westport, Connecticut-based private equity firm with $1.5 billion of capital under management, provides flexible capital solutions to lower middle market companies. Gemspring partners with talented management teams and takes a partnership approach to helping drive revenue growth and value creation. Target companies have up to $500 million in revenue and are in the aerospace & defense, business services, consumer services, financial & insurance services, healthcare services, industrial services, software & tech-enabled services, or specialty manufacturing sectors.
Read More