Minority stake investment from Primus Capital will support continued rapid growth and recently expanded ADP partnership.
BOSTON, Aug. 14, 2018 (GLOBE NEWSWIRE) — ClearCompany, the leading recruiting and talent management software solution that helps companies identify, hire and engage more A Players, today announced that it has completed a growth capital financing round of $60 million led by Primus Capital. The funds will be deployed to support the company’s strong growth and recently expanded partnership with ADP.
This is the first round of growth funding for ClearCompany – the world’s fastest growing talent management platform, with just one previous round of debt capital. Their award-winning software enables thousands of clients to consistently improve their talent lifecycle by implementing and automating a best-practices approach to total talent management. With premier solutions for Applicant Tracking, New Hire Onboarding, Performance and Goals and Talent Analytics, ClearCompany is the only talent management software that links company performance data back with hiring, providing clients with an unparalleled and actionable understanding of an A Player profile.
“In a market filled with point solutions, ClearCompany has built a truly differentiated Talent Operating System, a comprehensive suite of products that can be used by top performing organizations to engage employees around their critical mission, vision and goals,” said Jon Dick, Managing Director of Primus. “The company’s technology is of tremendous importance given that an organization’s most important asset is its employees.”
Aaron Davis, Director of Primus, added, “We are excited to partner with the impressive leadership team at ClearCompany and to work with management to build upon the Company’s track record of innovation. ClearCompany is a great addition to our portfolio.”
This investment will further drive ClearCompany’s rapid growth, allowing them to hire additional team members to support Advanced Talent, a complete talent solution offered with ADP for companies within the mid-market. The company also intends to expand product development, sales, marketing and services to support its mission of helping more organizations achieve their own missions and visions by hiring, retaining and engaging more A Players.
“We are delighted to partner with Primus as they have one of the strongest HR Tech disciplines we found among growth investors,” said Andre Lavoie, CEO and Co-Founder of ClearCompany. “Their investment will allow us to continue to hire the best people and maintain our position as the industry growth leader and innovator in talent software.”
First Analysis Securities Corporation served as exclusive financial advisor to ClearCompany in the transaction. TPG Sixth Street also provided a credit facility as part of the transaction.
For more than a decade, ClearCompany has helped companies identify, hire and engage millions of A Players from nearly 50 million applicants. We designed and built an organic, unified platform to deliver better hiring experiences, seamless onboarding, company-wide goal alignment and performance management, all driven by best practices. For more information, visit clearcompany.com.
Primus is a growth-oriented private equity firm focused on investing in leading healthcare, software and technology-enabled services companies. Primus partners with exceptional management teams to accelerate growth, improve operating performance, and increase the value of the companies in which they invest. Primus pursues buyouts, control and minority recapitalizations, secondary share purchases and expansion financings; this flexible approach enables them to engage with business owners and design tailored investment structures to meet the particular needs of the transaction. For more about Primus, please visit www.primuscapital.com.
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