AUSTIN, TX and BOSTON, MA--(Marketwire - September 8, 2008) - PeopleAdmin, Inc., a leading
provider of on-demand human resources software and solutions for higher
education and public sector organizations, announced today that it has
received an investment from Summit Partners, a private equity and venture
capital firm that has raised more than $11 billion since inception.
Founded in 2000, PeopleAdmin delivers a suite of human resources (HR)
modules that provides applicant tracking, position description, and
performance management systems designed to fulfill the unique requirements
of higher education and public sector organizations. PeopleAdmin's
solutions are fully hosted using a Software-as-a-Service (SaaS) model that
ensures quick implementation, eliminates paper and manual tasks, improves
efficiency and service levels, and supports HR compliance initiatives.
Nearly 500 leading higher education and public sector organizations
throughout North America use PeopleAdmin HR modules. PeopleAdmin has a
diverse customer base that spans more than 45 states and includes city,
county and state governments, colleges and universities, and research
focused non-profit organizations. Some of PeopleAdmin's prominent
customers include the City of Austin, the Commonwealth of Virginia,
Dartmouth College, Princeton University, The Scripps Research Institute,
University of Chicago, University of Notre Dame, University of Oklahoma,
University of Pennsylvania, and Wake Forest University.
Jeff Carpenter, Cofounder and CEO of PeopleAdmin, said, "From the inception
of PeopleAdmin, we have experienced tremendous growth as we have
successfully launched new products and entered new markets. Teaming up
with Summit Partners will provide our company with additional support as we
expand our product offering and customer base." Jack Long, Chairman of the
Board, added, "Summit's knowledge of the industry and long history of
partnering with growing software companies will be invaluable to our
organization."
"Jack Long and Jeff Carpenter have built an impressive company in
PeopleAdmin. The high retention rate of PeopleAdmin's customers in a market
that demands excellence is a testament to the quality and value of the
solutions they offer," said Jason Glass, a Vice President at Summit
Partners. "We are pleased to partner with such an outstanding management
team and look forward to supporting the company as it continues to grow."
Jack Long and Jeff Carpenter will continue as Chairman and CEO. As part of
their growth strategy, they plan to add more senior executive talent while
enhancing the company's reputation for excellent customer service.
About PeopleAdmin
PeopleAdmin (
www.peopleadmin.com) provides on-demand human resources
software that fulfills the unique requirements of the higher education and
public sectors. The company provides applicant tracking, position
description, and performance management systems using a fully hosted,
Software-as-a-Services (SaaS) model that eliminates paper and manual tasks,
improves efficiency and service levels, and supports HR compliance
initiatives. PeopleAdmin currently serves nearly 500 leading colleges,
universities, government agencies and non-profits throughout North America.
About Summit Partners
Summit Partners (
www.summitpartners.com) provides private equity and
venture capital for growth companies. Founded in 1984, Summit has raised
more than $11 billion in capital and has provided equity, recapitalization,
and management buyout financing to more than 300 growing companies across a
range of industries. These companies have completed nearly 125 public
offerings and more than 110 have been acquired through strategic mergers
and sales. Summit Partners has offices in Boston, Palo Alto, and London.
Summit Partners works with outstanding management teams that have
self-financed their companies to profitability and market leadership. The
firm has nearly 25 years experience of investing in the technology sector,
and notable software investments include Blue Ocean Software, McAfee,
Help/Systems, Unica, RightNow Technologies, and SafeBoot.
The business of Summit Partners in the UK is regulated by the Financial
Services Authority. Summit Partners Limited is registered in England and
Wales. The registered number is 4141197, and the registered office is
located at 20-22 Bedford Row in London, WC1R 4JS, UK. In the US, Summit
Partners operates as an SEC-registered investment advisor. This document is
intended solely to provide information regarding Summit Partners' potential
financing capabilities for prospective portfolio companies.
Contact Information: CONTACT INFORMATION
Joan Miller
Summit Partners
+1-617-824-1047