PeopleMatter – the only cloud-based workforce management platform designed specifically for the service industry – today announced that it has secured $16 million in Series E funding.
• Led by StarVest Partners, this round includes participation from all prior investors: C&B Capital, Harbert Venture Partners, Intersouth Partners, Morgenthaler Ventures, Noro-Mosley Partners and Scale Venture Partners.
• New York-based StarVest Partners, an early adopter of SaaS companies, focuses on emerging technology and services companies. They were the first venture firm to invest in NetSuite (NYSE: “N”).
• With this investment, StarVest Founder and General Partner Deborah Farrington, dubbed “Queen Midas” by Forbes, joins the PeopleMatter Board of Directors.
• PeopleMatter plans to use the funds to accelerate its growth – launching new products, investing in sales and marketing, and expanding internationally.
“PeopleMatter is a disruptive technology company with an enormous opportunity in the service industry, a market that has been traditionally overlooked by the legacy HCM players,” stated Farrington. “PeopleMatter has rapidly altered the landscape of service industry employers with elegant, easy-to-use products, so employers are no longer tethered to paper, spreadsheets, inadequate point solutions or cobbled together suites of products. They are the only SaaS company to design a platform from one source code that manages all aspects of the employee life cycle for service industry employees both large and small.” Continuing Momentum
Since the previous funding led by Scale Venture Partners, PeopleMatterʼs cloud-based technology has gained momentum in the marketplace. Over the past six months the company achieved the following milestones:
• Acquired industry-leading assessment provider PeopleClues with customers located in Australia, Canada, China, New Zealand and the United Kingdom.
• Increased the number of customers on the PeopleMatter Platform™ by 296 percent.
• Added household name brands such as, Comfort Inn, Firehouse Subs, Five Guys, Hampton Inn, Holiday Inn Express, IHOP, Jack in the Box, Jiffy Lube, Kids Quest, Marriott, Moeʼs Southwest Grill and Wendyʼs.
• Received Bersin by Deloitteʼs ʻDelivering Innovationʼ award for WhatWorks®.
• Recognized for the ʻBest Online Candidate Experienceʼ by Online Recruitment Magazine.