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MERGERS & ACQUISITIONS • CAPITAL RAISES • FINANCIAL & STRATEGIC ADVISORY
HR TECH TRADING MULTIPLES
MAJOR INDICES & RATES
HR TECH NEWS & TRENDS
HR TECHNOLOGY MARKET UPDATE – Q3 & Q4 2017
The second half of 2017 continued the trend of a healthymarket for M&A and capital raises in HR technology. Theoutlook is positive in 2018 for quality HR tech companies topursue a sale of business or capital raise. Strategic buyersand private equity firms have record amounts of cash todeploy and valuations remain attractive.
Our client, PeopleNet, is poster child for trends in privateequity with The Gores Group selling it to Bullhorn after only1.5 years since acquiring it from the founder. Private equitybacked Bullhorn has made 2 tuck-in acquisitions in last 6months. Some other notable activity includes:
▪ Cornerstone hired bankers to explore a sale of thebusiness, but in November received a $300 millioninvestment from Silver Lake and LinkedIn. Stock priceresponded positively.
▪ WorkDay acquired Pattern Technologies for teamcollaboration for an undisclosed sum. This acquisitionrepresents part of WorkDay’s initiative to transition froma closed system to an open Platform as a Service.
▪ WorkMarket acquired OnForce from The Adecco Groupfor an undisclosed amount in August. WorkMarket hasraised a total of $66 million with most recent round led byAccenture and Foundry Group. This acquisition combinestwo freelance management system providers, leavingField Nation as the remaining competitor helpingcompanies manage freelance talent. We continue to seeincreased capital raising activity for companies digitizingthe human capital supply chain for contingent workers.
▪ Gartner announced it was exploring the sale of its CEBTalent Assessment business, formerly SHL.
All indications are positive as we head into 2018. JoshBersin’s (Deloitte) new report “HR Technology Disruptionsfor 2018” is excellent and I highly recommend reading it. Our9th annual conference, CHILDSConnect, will be on May 10thin Atlanta at The St. Regis. Last year over 400 owners,executives, and investors interested in middle market growthopportunities were in attendance. You can learn more andregister at www.childsadvisorypartners.com/childsconnect. Ihope to see you all there!
Scott Rhodes
Managing Director
% Change
3 Month 12 Month
HR Tech Composite (CHILDS) 63,631.21 5.0% 24.6%
HR Outsourcing (CHILDS) 80,948.92 4.6% 17.7%
Dow Jones 26,392.79 10.3% 25.1%
NYSE 13,512.66 4.9% 15.8%
NASDAQ 7,411.16 6.3% 28.2%
AMEX 2,724.77 0.8% 15.3%
S&P 500 2,839.25 6.1% 19.4%
Russell 2000 1,601.67 3.0% 13.1%
USD/Euro 0.83 (1.6%) (12.1%)
USD/Yen 112.64 0.0% (3.5%)
USD/Pound 0.74 (0.8%) (8.7%)
U.S. Prime Rate 4.500% 25.00 Bps 75.00 Bps
U.S. Treasury - 10 Year 2.400% 7.00 Bps (5.00 Bps)
LIBOR - 3 month 1.694% 36.04 Bps 69.64 Bps
Fed Funds Overnight Rate 1.330% 27.00 Bps 78.00 Bps
Close as of
12/31/2017
Enterprise Value
LTM Revenue LTM EBITDA
HR Tech 5.83x 15.9x
HR Outsourcing 2.69x 15.0x
2
HR TECH NOTABLE ACQUISITIONS
CHILDS Advisory Partners
Q4 2017
Enterprise Value: $340MMEV/Revenue: 8.5xEV/EBITDA: ND
Q4 2017 Q4 2017
Q3 2017Q3 2017Q4 2017
Developer of time tracking and scheduling platform; online platform enables clients to manage, track and report time using their mobile phone, GPS-enabled app or computer
Provider of cloud-based workforce management solutions; offers time management products
Provider of cloud-based customer relationship management solutions for companies in service-based industries; offers staffing, recruiting, and relationship management software
Provider of job simulation solutions; solutions offer features that allow hiring managers to evaluate candidates and candidates are able to receive quantified feedback on performance dimensions
Provider of intelligent automation technology that maximizes scheduling flexibility, optimizes intraday performance, and reduces administrative overhead
Provider of a platform for connecting professionals directly to the hiring organization; platform allows for companies to search for, engage with, manage, and pay non-employee professionals
has acquired
Enterprise Value: $125MMEV/Revenue: 5.0xEV/EBITDA: ND
has acquired
Enterprise Value: >$600MMEV/Revenue: NDEV/EBITDA: ND
has acquired
Enterprise Value: NDEV/Revenue: NDEV/EBITDA: ND
has acquired
Enterprise Value: NDEV/Revenue: NDEV/EBITDA: ND
has acquired
Enterprise Value: NDEV/Revenue: NDEV/EBITDA: ND
has acquired
3
HR TECH NOTABLE ACQUISITIONS
CHILDS Advisory Partners
Q4 2017Q4 2017 Q4 2017
Q3 2017Q3 2017Q4 2017
Provider of cloud-based talent management software; platform manages full employee life-cycle
Provider of an artificial intelligence platform for recruitment; offers customized machine learning models to identify great candidates
Provider of recruitment software and applicant tracking system; utilizes big data hiring tools to post jobs online and engage qualified candidates
Provider of recruitment software and applicant tracking system; end-to-end collaborative platform with 1,500+ customers utilizing the software
Provider of talent acquisition and talent management software; end-to-end platform that identifies and manages candidates
Provider of web-based learning management system; enables organizations to administer training courses to internal and external audiences
Amount Raised: $294MM
Investors:
Amount Raised: $3.5MM
Investors:
Amount Raised: $6.6MM
Investors:
Amount Raised: $11MM
Investors:
Amount Raised: $59MM
Investors:
Amount Raised: $30MM
Investors:
4
5.7x
4.2x
5.9x5.4x
4.2x
5.8x5.8x
4.6x
6.4x
0.0x
1.0x
2.0x
3.0x
4.0x
5.0x
6.0x
7.0x
HR Tech Enterprise Software SaaS
Q2 '17 Q3 '17 Q4 '17
2.40x
2.49x 2.49x
2.26x
2.50x
2.40x
2.00x
2.10x
2.20x
2.30x
2.40x
2.50x
2.60x
2012 2013 2014 2015 2016 2017
EV/LTM Revenue
M&A ACTIVITY AND TRENDS
CHILDS Advisory Partners
EV/Revenue
SOFTWARE M&A VALUATIONS
Sources: Capital IQ, Gartner, Forrester, CHILDS proprietary database
U.S. MIDDLE MARKET SOFTWARE M&A ACTIVITY – QUARTERLY TRENDS
▪ M&A activity in U.S. for middle market softwarecompanies slightly softened in Q3 and Q4 2017 with 814deals announced.
▪ Represents a 13% volume decline over theprevious 6 months and a 7% decline from thesame period last year
▪ Tax Cuts and Jobs Act 2017 have an uncertainimpact on the M&A market, increased GDPgrowth, no change in long term capital gainsrate, and debt financing losing some taxadvantage
▪ Opportunity for high quality growth deals to bewell received by buyers
▪ Note, we define middle market as deals withenterprise value less than $1 billion
▪ Valuations for publicly traded technology companiescontinue to increase.
▪ Revenue multiples for public HR techcompanies increased slightly from 5.7x to 5.8xfrom Q2 to Q4
▪ Strategic buyers did not complete any major acquisitionsin Q3 and Q4.
SOFTWARE PUBLIC MARKET VALUATIONS
296 311331
308 326
387364 380
406377 380 393 377 384
344 356
411
351 342321
6677
8199
102
114
101102
106
107 87107
83 75
4662
54
6945
42
11
1110 27
23
16
1823
16
1619
20
20 17
16
18
11
14
23
191
67
1011
8
10
1610
814
14
9 7
14
18
11
1013
9374
405429
444462
525493
521538
508 500
534
489 483
420
454
487
444423
391
0
100
200
300
400
500
600
0
100
200
300
400
500
600
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2013 2014 2015 2016 2017
Undisclosed Less than $100M $100M - $499M $501M - $1,000M Deal Count
5
EVENT DATES LOCATION
Oct 4-5 Dallas, TX
Oct 16-18 Washington, D.C.
Feb 20-22 Las Vegas, NV
EVENT DATES LOCATION
May 6-9 San Diego, CA
June 5 – 7 Miami, FL
June 17-20
Chicago, IL
Sept 11-14
Las Vegas, NV
CHILDS Advisory Partners
PUBLIC TRADING STATISTICS
Source: Capital IQ* Denotes figure excluded from mean calculation
HR TECHNOLOGY
HRO (HUMAN RESOURCES OUTSOURCING)
(USD in millions, except for stock price)
(USD in millions, except for stock price)
HCM CONFERENCES [1]
[1]: Green font represents planned attendance by CHILDS Advisory Partners
Market Data Operating Statistics EV as a Multiple of: Growth
Stock Price LTM LTM CY2018 16 - '17
Company Name 12/31/17 Revenue EBITDA % Margin Revenue EBITDA Revenue EBITDA GrowthAverage
Paychex, Inc. $68.08 96.7% $24,453.3 $24,248.1 $3,237.7 $1,415.6 43.7% 7.49x 17.1x 7.01x 16.0x 5.6% 7.1%
Workday, Inc. 101.74 87.0% 21,365.4 19,627.7 1,995.1 (205.4) (10.3%) 9.84x NM 9.19x 56.7x * 36.0% 41.6%
The Ultimate Software Group, Inc. 218.23 93.5% 6,519.8 6,391.2 899.8 69.2 7.7% 7.10x 92.3x * 5.75x 23.3x 19.6% 23.1%
Paycom Software, Inc. 80.33 93.3% 4,680.4 4,648.1 406.8 86.1 21.2% 11.43x * 54.0x * 8.57x 27.9x 31.3% 43.7%
Paylocity Holding Corporation 47.16 87.4% 2,476.7 2,379.2 316.5 22.6 7.1% 7.52x 105.3x * 6.43x 31.8x * 26.0% 39.2%
Cornerstone OnDemand, Inc. 35.33 79.8% 2,045.7 1,982.5 459.1 (47.8) (10.4%) 4.32x NM 3.92x 21.3x 14.2% 23.8%
WageWorks, Inc. 62.00 77.0% 2,457.5 1,809.9 461.7 91.7 19.9% 3.92x 19.7x 3.44x 10.8x 31.7% 23.6%
Callidus Software Inc. 28.65 93.6% 1,951.5 1,775.1 239.7 (6.6) (2.7%) 7.41x NM 5.93x 38.2x * 20.5% 23.0%
Benefitfocus, Inc. 27.00 72.8% 844.4 909.6 252.6 (2.7) (1.1%) 3.60x NM 3.24x 32.8x * 9.9% 25.6%
HealthStream, Inc. 23.16 73.5% 738.7 615.3 243.6 27.1 11.1% 2.53x 22.6x 2.32x 14.5x 9.5% 14.5%
Asure Software, Inc. 14.12 81.8% 176.0 224.3 48.9 6.7 13.7% 4.59x 33.6x * 2.83x 11.8x 55.3% 22.1%
DHI Group, Inc. 1.90 29.2% 95.5 141.8 212.0 35.5 16.7% 0.67x * 4.0x 0.67x * 3.5x (8.2%) (5.8%)
Mean 80.5% $731.1 $124.3 9.7% 5.83x 15.9x 5.33x 16.1x 21.0% 23.5%
Median 84.4% $361.7 $24.9 9.4% 5.85x 18.4x 5.75x 15.3x 20.0% 23.4%
3 Year
Rev CAGR
% of 52
Week HighMarket Cap.
Enterprise
Value
Market Data Operating Statistics EV as a Multiple of: Growth
Stock Price LTM LTM CY2018 16 - '17
Company Name 12/31/17 Revenue EBITDA % Margin Revenue EBITDA Revenue EBITDA GrowthAverage
Automatic Data Processing, Inc. $117.19 96.2% $51,972.6 $51,627.3 $12,541.7 $2,713.5 21.6% 4.12x 19.0x 3.91x 28.7x 5.7% 6.3%
Willis Towers Watson Public Limited Company150.69 91.3% 19,896.9 23,728.9 7,969.0 1,585.0 19.9% 2.98x 15.0x 2.82x 11.3x 4.3% 28.7%
51job, Inc. 60.85 92.4% 3,759.4 2,895.1 401.7 124.9 31.1% 7.21x 23.2x 5.49x 15.3x 30.1% 14.7%
Capita plc 5.42 55.6% 3,607.3 6,691.3 6,338.6 872.7 13.8% 1.01x 7.4x 1.12x 8.6x (3.8%) 5.6%
TriNet Group, Inc. 44.34 98.0% 3,081.0 3,249.1 3,238.5 239.1 7.4% 1.00x 13.6x 4.02x 11.6x (73.7%) 16.1%
Insperity, Inc. 57.35 95.0% 2,390.7 2,207.2 3,202.8 135.2 4.2% 0.69x * 16.3x 0.61x * 11.1x 11.7% 11.4%
CBIZ, Inc. 15.45 89.6% 835.9 1,043.1 839.0 89.7 10.7% 1.24x 11.6x 1.17x 9.6x 6.5% 6.4%
Barrett Business Services, Inc. 64.49 93.0% 470.8 438.9 896.8 31.8 3.5% 0.49x * 13.8x 0.43x * 9.9x 6.7% 14.0%
Connecture, Inc. 0.16 6.6% 3.7 98.7 78.0 (5.2) (6.6%) 1.27x NM NM NM (4.8%) (1.5%)*
Mean 79.7% $3,945.1 $643.0 11.7% 2.69x 15.0x 3.09x 13.3x (1.9%) 11.3%
Median 92.4% $3,202.8 $135.2 10.7% 1.27x 14.4x 2.00x 11.2x 5.7% 11.4%
% of 52
Week HighMarket Cap.
Enterprise
Value
3 Year
Rev CAGR
6
1.0x
2.0x
3.0x
4.0x
5.0x
6.0x
7.0x
8.0x
Jan
-15
Feb
-15
Mar
-15
Ap
r-1
5
May
-15
Jun
-15
Jul-
15
Au
g-1
5
Sep
-15
Oct
-15
No
v-1
5
Dec
-15
Jan
-16
Feb
-16
Mar
-16
Ap
r-1
6
May
-16
Jun
-16
Jul-
16
Au
g-1
6
Sep
-16
Oct
-16
No
v-1
6
Dec
-16
Jan
-17
Feb
-17
Mar
-17
Ap
r-1
7
May
-17
Jun
-17
Jul-
17
Au
g-1
7
Sep
-17
Oct
-17
No
v-1
7
Dec
-17
HR Tech HRO
(20.0%)
(10.0%)
0.0%
10.0%
20.0%
30.0%
40.0%
50.0%
Jan
-15
Feb
-15
Mar
-15
Ap
r-1
5
May
-15
Jun
-15
Jul-
15
Au
g-1
5
Sep
-15
Oct
-15
No
v-1
5
Dec
-15
Jan
-16
Feb
-16
Mar
-16
Ap
r-1
6
May
-16
Jun
-16
Jul-
16
Au
g-1
6
Sep
-16
Oct
-16
No
v-1
6
Dec
-16
Jan
-17
Feb
-17
Mar
-17
Ap
r-1
7
May
-17
Jun
-17
Jul-
17
Au
g-1
7
Sep
-17
Oct
-17
No
v-1
7
Dec
-17
HR Tech HRO S&P500
CHILDS Advisory Partners
STOCK MARKET FUNDAMENTALS
HR Tech: ASUR, BNFT, CALD, CSOD, DHX, HSTM, PAYX. WAGEHR Outsourcing: ADP. CBZ, CNXR, CPI, JOBS, WLTW
HR SECTOR INDICES VS. S&P 500
VALUATION TREND DATA (EV/LTM REVENUE)
3 mos. 12 mos. 3 yrs
HR Tech 5.0% 24.6% 39.5%
HRO 4.6% 17.7% 24.6%
S&P500 6.1% 19.4% 29.9%
3 mos. 12 mos. 3 yrs
HR Tech 7.1% 7.9% 4.9%
HRO (12.9%) 12.1% (6.8%)
7
CHILDS Advisory Partners
RECENT HR TECHNOLOGY M&A TRANSACTIONS
Buyer Target Target Description
Enterprise Value
($MM)
Q4 2017
Intuit Tsheets Developer of time tracking and scheduling software $340
Callidus Software Learning Seat (portfolio company of The Riverside Company)Provider of adaptive training and compliance learning
content$26
Stone-Goff Partners DSG ConsultingProvider of outsourced sales training and enablement
servicesND
Bullhorn (portfolio company of Insight Venture
Partners)PeopleNet (portfolio company of The Gores Group) Provider of cloud-based workforce management solutions $125
The Riverside Company Shaker International Provider of SaaS-based online pre-employment assessments ND
Insight Venture Partners Bullhorn (portfolio company of Vista Equity Partners) Provider of recruiting and staffing software >$600
NICE WorkflexProvider of intelligent automation technology to reduce
administrative overheadND
CIP Capital WilsonHCG (portfolio company of Frontier Capital)Provider of full-service recruitment process outsourcing
and human capital consulting servicesND
ADP Global Cash Card Provider of digital processing payment platform ND
Bain Capital Private Equity NGA Human Resources (UK Mid-Market and SMB divisions)Developer of human resource software; Provides business
process outsourcing and manpower management servicesND
RWS Holdings plc (AIM:RWS) Article One Partners, LLC (a subsidiary of ipCreate)Operator of an online intellectual property (IP) research
community $8
Asure Software Associated Data Services Provider of payroll and human resource services ND
Q3 2017
Inverness Graham Investments MC2 Consulting Services (dba SwipeClock)Provider of cloud-based integrated software designed for
workforce management services$60
RIVS Digital Interviews HireBarDeveloper of a SaaS based platform that provides data-
driven recruitment and hiring process services$1
Bullhorn (portfolio company of Vista Equity Partners) Connexys (portfolio company of Main Capital Partners) Provider of recruitment solutions for mainland Europe ND
PrismHR (portfolio company of Accel-KKR) NetWise TechnologyProvider of data management, quality assurance, software
engineering, and management systemsND
Microgen RevStreamProvider of a cloud-based revenue management and
analytics tool $13
ZeroChaos (portfolio company of The Carlyle Group) Loki Management Systems Developer of workforce management software ND
WorkDay Pattern Technologies Provider of a customer relationship platform ND
Work Market OnForce (a subsidiary of The Adecco Group)Provides a platform for connecting professionals directly to
the hiring organizationND
Indeed Interviewed Provider of job simulation solutions ND
Marlin Equity Partners MediusProvider of cloud-based accounts payable automation
softwareND
8
CHILDS Advisory Partners
RECENT HR TECHNOLOGY CAPITAL RAISES
Investors Company Company Description
Current Raised
($MM)
Q4 2017
ND madeBOS, Inc. Developer of a career development platform ND
ND H3 Financial Services, Inc.Provider of SaaS financial services solutions, including
multiple consumer finance products and billing capabilities$16.9
Rho Capital Partners, Inc.; Sapphire Ventures LLC; Tola
Capital LLCConvercent, Inc.
Provider of SaaS based corporate compliance management
tools$25.0
ND LearnBolt, Inc. Developer of mobile learning platform ND
ND Take The Interview, Inc. Provider of a cloud-based video interviewing platform ND
Panda CashBack LLC Pinoy For HireProvider of virtual assistance services to small business
ownersND
ND Assessment Innovation, Inc.Developer of a talent management application designed to
identify and manage talentsND
LinkedIn Corporation; Silver Lake Cornerstone OnDemand, Inc. (NasdaqGS:CSOD) Provider of cloud-based talent management software $294.0
Lightspeed Venture Partners; Y Combinator
Management LLCSourceress, Inc. Provider of an artificial intelligence platform for recruitment $3.5
TIMIA Capital Corp. (TSXV:TCA) Rise People, Inc. Provider of a human resources management platform $1.6
ND Third Street Data, Inc. Provider of recruitment software ND
Birchmere Ventures; Blue Cloud Ventures; Rincon
Venture Partners; Volition CapitalJazzHR
Provider of recruitment software and applicant tracking
system$6.6
Canaan Partners; Cisco Investment; GE Ventures AscendifyProvider of talent acquisition and talent management
software$11.0
Q3 2017
Heritage Group Relode Provider of a healthcare online recruitment platform ND
Alpine Investors Bill4Time Provider of cloud-based time and billing software ND
Crane Venture Partners; Microsoft Ventures; Salesforce
VenturesOnfido
Provider of identity verification and background check
platform $30.0
Savano Capital Partners Jobcase Provider of a professional social media platform $7.0
Norwest Venture Partners Legion TechnologiesDeveloper of SaaS-based intelligent workforce engagement
platform$10.5
Silversmith Capital Absorb Software Provider of web based learning management system $59.0
MaRs Discovery District, Investment Arm O5 Systems, Inc.Provider of artificial-intelligence technology systems
designed for recruiting purposes$2.4
Big Basin Capital; Walden Venture Capital GoodTime.io Developer of a candidate scheduling application $2.0
ND Riv Data Corp.Developer of social media screening and investigation
softwareND
ND Ganaz Inc.Developer of a suite of technology tools designed to connect
agriculture operations with farmersND
ND Game Theory Group International LLCProvider of comprehensive student-athlete development
platform ND
500 Startups VCV Inc. Provider of an artificial intelligence-powered recruiting bot ND
ND Appcast, Inc. Provider of an online job portal $3.0
Adams Street Partners, LLC; Matrix Partners; Scale
Venture PartnersLever, Inc.
Provider of recruitment software and applicant tracking
system$30.0
New World Angels, Inc. Rewired Solutions, Inc.Developer of a cloud based sourcing tool and vertical social
platform designed to automate hiring procedure$1.0
Morgan Stanley Private Equity Voices.com Inc.Provider of an online marketplace that connects businesses
with professional voice talent$18.0
Mercer, Inc. PayScale, Inc. Provider of online cloud compensation software ND
CrossLink Capital, Inc.; Origin Ventures; SoftTech VC; Y
Combinator Management LLCOnboardIQ, Inc. Developer of hiring automation software for hourly workers $9.1
Activa Capital; Ardian; Société Générale Capital
Partenaires SASHR Path SAS Provider of human capital management services $31.9
9
SCOTT RHODES
MANAGING DIRECTOR
404.461.4621srhodes@childsap.com
TOM DONAHUE
MANAGING DIRECTOR
617.663.5508tdonahue@childsap.com
JUSTIN BENTLEY
DIRECTOR
404.461.4648jbentley@childsap.com
▪ Former Corp. Dev. executive for two S&P 500 companies, Equifax and Waste Management, and CEO of PE-backed business sold to strategic buyer
▪ 14 years of investment banking experience including Robinson Humphrey and Bank of America
▪ Executed over 80 M&A and capital markets transactions
▪ MBA from Kellogg School at Northwestern University (Beta Gamma Sigma) and BA from UNC Chapel Hill (Phi Beta Kappa)
▪ 20 years of investment banking experience executing M&A transactions and raising capital
▪ Co-founder of Bulger Capital Partners
▪ Co-head of East Coast Services and Software for Needham & Company
▪ MBA from F.W. Olin School of Business at Babson College and a B.A. from Hobart College
▪ 9 years of investment banking experience including Morgan Stanley and KPMG
▪ Executed 15 M&A and capital markets transactions (over $15 billion in value)
▪ MBA from Darden School of Business at the University of Virginia and undergraduate from the University of Virginia
CHILDS Advisory Partners
FIRM OVERVIEW
CORE COVERAGE
Recruiting
Onboarding
Talent
Workforce
Analytics
Compliance
Human Resources
Marketing
Vertical SaaS
Data & Analytics
Healthcare
SOFTWARE HR T ECH
• 45 professionals across four offices in U.S. with headquarters in Atlanta
• 83 transactions closed since 2014
• Over 450 transactions completed in the middle market (Enterprise Value less than $1.0 billion)
• 60% transactions since 2013 have involved a strategic buyer; 40% a financial sponsor
• Named 2016 U.S. Boutique Investment Bank of the Year by The M&A Advisor
SERVICE OFFERINGSQUICK FACTS
CAPITAL RAISES
MERGERS & ACQUISITIONS
FINANCIAL & STRATEGIC ADVISORY
Industrial Services
Human Capital Management
Technology
Services
Software
BUSINESS
SERVICESHEALTHCARE TECHNOLOGY
IT & Professional Services
ATLANTA | BOSTON | LOS ANGELESwww.childsadvisorypartners.com
SENIOR SOFTWARE TEAM
10
CHILDS Advisory Partners
TEAM’S EXTENSIVE EXPERIENCE IN HR TECHNOLOGY
Provider of next-generation, end-to-end benefits management solutions and services
Provider of B2B education and training solutions
People Business Network (PBN)
Provides recruitment process outsourcing services to the life sciences industry
Leading HR & finance consultancy with a focus on deploying cloud-based software solutions
Provider of unemployment tax compliance, unemployment claims administration, and international employment tax services
Leading automated employment and salary verification service provider
SaaS-based provider of workforce management solutions with a focus on time & attendance
Provider of pre-hire and post-hire talent assessments
SAP and SuccessFactors partner in North America specializing in HCM consulting services
Oracle/PeopleSoft consulting services to the healthcare and state/local industries
Provider of integrated talent acquisition solutions such as MSP, VMS, payroll, and recruitment process outsourcing
WFM consulting services and analytics software to the retail, healthcare, manufacturing and public sector industries
Leading provider of Workday consulting services and the first acquisition in the ecosystem
Job application evaluation and suitability software solutions
Research and consulting services focused on assessment and development of leaders
Workforce planning, scheduling, and management solutions
End-to-end talent management software solutions exclusively for healthcare organizations
On-demand workforce optimization solutions that monitor transitions, analyze metrics, and automate deployment processes
has received an equity investment from
has been recapitalized by has been recapitalized by has been recapitalized by
has been recapitalized by
has been acquired by
has acquired
has been recapitalized by has been acquired byhas been acquired byhas been acquired by
has been acquired by
has acquired has been acquired byhas acquired
has been acquired by has been acquired by has been acquired by
has strategically combined with
Provider of U.S. healthcare compliance services
Undisclosed
received investment from
Provider of workforce software
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