HRsoft, (www.hrsoft.com) an innovator of cloud-based High Impact Talent Management Systems(TM) - that promote strategic HR, effective line managers and engaged employees -has closed a new round of equity financing. This will support the company's strong growth that has resulted from bringing a new generation of talent management solutions to the human resources software market.
The round was led by new investor Bellwether Financial Group. Bellwether's Founder, Joe Ueberroth, will become Chairman of HRsoft's Advisory Board where he will be joined by Wally Smith. Smith, an HRsoft investor, is the current CEO of SafetyChain Software and the former CEO of HR Service Delivery giant Enwisen, which was acquired by Lawson in 2011.
The new capital will be used to further build HRsofts' sales, client implementation and engineering groups to stay ahead of the fast-growing demand for its cloud based, multi-tenant Human Resource software. Wally Smith commented that, "The HRsoft technology stack is the most robust and scalable I've seen in the space. We look forward to helping accelerate growth with this strategic capital and advisory services."
"In today's post-recession environment, Human Resource executives are being asked to execute on strategies that build long term, competitive advantages for their businesses. HR departments have to help line managers in the business units build and manage teams of highly engaged, innovative and productive employees" said David Kennedy, CEO of HRsoft. "This trend presents a tremendous opportunity for HRsoft. Our High Impact Talent Management suite has been designed from the ground up to take talent management beyond transactions and to facilitate strategic HR operations. This turns line managers into leaders, engages employees for maximum productivity and alignment with company business goals, and provides visibility into data about how effective talent management practices are throughout the organization. This funding will help us to continue to accelerate our leadership in this new generation of talent management offerings."
"There are two strong forces propelling HRsoft's growth. First, HR organizations are under tremendous pressure to make the final transformation away from a transactional, administrative role into a broader strategic role. That strategic role has to have true impact on line manager effectiveness and employee engagement. The second force is the market's desire to leverage a newer generation of software solutions that also go beyond transactions to provide both strategic impact and the measurable return on investment that supports HR's new strategic role," said Joe Ueberroth, Founder and President of Bellwether. "We, along with HRsoft' s other investors, want to ensure that HRsoft has no barriers to realizing its potential."
HRsoft is the leading provider of Cloud-based High Impact Talent Management solutions designed to: transform the operating model of HR from administrative to strategic; empower line managers with tools to promote effective leadership; attract, engage and retain a highly productive, innovation-focused workforce; and create a high rate of measurable next generation "ROII" - Return on Impact Investment. Its integrated suite includes solutions to manage Performance, Compensation, HR Content, Recruitment, Total Rewards Portals and Stay Interviews.