Venture Capital News: PeopleDoc Secures $28M Series C Round
NEW YORK, NY, PeopleDoc, the leading provider of cloud-based human resources (HR) service delivery solutions, today announced that it has received $28 million in Series C funding.
The round was led by Eurazeo, one of the leading investment companies in Europe. PeopleDoc's existing investors -- Accel Partners, Alven Capital and Kernel Investissements -- also participated in the round. PeopleDoc has raised a total of $53.5 million to date.
'We've been impressed by PeopleDoc's agility and success in the U.S. and Europe, as well as their accessible, groundbreaking technology,' said Virginie Morgon, Deputy CEO, Eurazeo. 'We're proud to contribute to their development and growth.'
PeopleDoc's cloud-based technology, which automates all stages of the employee lifecycle from hire to retire, has helped more than 400 customers derive more value by transforming their HR service delivery. The company has grown by 100 percent over the past year, and its software-as-a-service (SaaS) platform is poised for continued growth as market demand increases. The Sierra-Cedar 2014-2015 HR Systems Survey projects continued growth for Human Resources Management System (HRMS) applications over the next three years, including increases for business process improvement (over 64 percent) and service delivery (over 40 percent).
'Our innovative solutions have helped employees and HR teams build stronger relationships and deliver better results,' stated Jonathan Benhamou, CEO and co-founder, PeopleDoc. 'This funding will help us invest in sales and marketing, further expand our technology platform, support an exceptional customer experience and serve more enterprises as we grow our business in the U.S. and Europe.'
Subsequent to opening its U.S. offices in January 2014, PeopleDoc secured several high-profile customers including American Express, Fast Retailing, Georgetown University, Match.com and Paychex. In addition, the company has established strong partnerships with ADP, SAP Success Factors and Workday.
PeopleDoc empowers employees to simply and easily access relevant HR information from hire to retire, bringing greater value and capacity to the HR function within corporate enterprises. Named by Gartner as a Cool Vendor in Human Capital Management in 2014, PeopleDoc's cloud-based HR delivery solution increases productivity and improves employee loyalty.
With offices in the U.S. and Europe, PeopleDoc serves more than 400 customers globally. The company is backed by Eurazeo and Accel Partners. For more information, visit http://www.people-doc.com or follow us on Twitter or LinkedIn.
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