WorkForce Software Raises $17M
WorkForce Software Raises $17M
WorkForce Software (Livonia, Michigan, USA) has announced details of its Series A and mezzanine capital raise. A total of $17 million was raised from investors K1 Capital and Triangle Capital Corporation. The investment round will be used by WorkForce Software to expand its market presence globally as well as continue its investments in bringing innovative capabilities to its clients.
WorkForce Software is an Independent Software Provider of workforce management solutions for organizations with complex labor policies and stringent compliance.
The company was founded in 1999 and has been named one of the Top 100 North American companies by Red Herring and has ranked repeatedly on Inc. Magazine’s Inc 5000 and Software Magazine’s Software 500. The Company has hundreds of enterprise clients around the globe using its EmpCenter suite, including clients in North America and internationally in Europe, Latin America, the Middle East, and Asia. EmpCenter helps these employers track and manage employee time and labor, control and manage absences, schedule employees, ensure compliance, and mitigate the risk of employee fatigue.
Kevin Choksi, CEO and co-founder of WorkForce Software
“WorkForce Software has a rich history of helping employers manage diverse, complex and dynamic workforces. Faced by a wide range of workforce management issues ranging from federal, state/provincial and local compliance regulations to fatigue management, the demand is becoming more intense and more pervasive. We’ve grown organically and profitably since the company’s inception, but we felt the time was right to leverage outside investment to accelerate our growth. We’re excited to close our Series A funding, which will enable us reach more clients around the world and continue our investments to bring even more innovations to the workforce management market.”
Taylor Beaupain, Managing Partner of K1 Capital, commented, “We invest alongside strong management teams that continue to guide their organizations on a day-to-day basis. As partners, we seek to provide meaningful strategic and financial support to help these companies reach their full potential. WorkForce Software is an excellent example of how we can help our portfolio companies navigate strategic opportunities, especially given the loyalty of their existing clients, impressive new client growth and their continued commitment to product innovation.”
Garland S. Tucker, III, President and CEO of Triangle Capital Corporation, said, “The combination of WorkForce Software’s solid leadership team and deep product functionality initially piqued our interest. As we learned more, we found the strength of EmpCenter and WorkForce Software to support global clients is unmatched. This financing round will allow the company to fully exploit the global workforce management opportunity.”
Source: WorkForce Software
