Cloud based workforce management platform, PeopleMatter has closed USD 16 Mn in Series E funding round led by StarVest Venture Partners, taking the total funds raised by the company to USD 63.4 Mn.
The round also saw participation from its existing investors including C&B Capital, Harbert Venture Partners, Intersouth Partners, Morgenthaler Ventures, Noro-Mosley Partners and Scale Venture Partners.
With this investment, Deborah Farrington, Founder and General Partner, StarVest has joined the boards of PeopleMatter.
The growing part-time workforce has all aspects of people management. PeopleMatter platform is designed specifically for the service industry and it provides an all-in-one hiring, training, scheduling and communication platform that automates and streamlines processes and paperwork, company-wide. Its process comprises of four modules.
HIRE, with customizable job application form that includes assessments, background checks and tax credit screening, applicant tracking, and onboarding.
LEARN, to enable online training to be delivered to every employee.
SCHEDULE, which uses labor forecasting to build schedules and can publish shifts to employees’ mobile devices to enable them to see and trade their shifts.
ENGAGE, which includes performance measurement, communications and employee rewards programs.
“PeopleMatter is a disruptive technology company with an enormous opportunity in the service industry, a market that has been traditionally overlooked by the legacy HCM players,” stated Farrington. “PeopleMatter has rapidly altered the landscape of service industry employers with elegant, easy-to-use products, so employers are no longer tethered to paper, spreadsheets, inadequate point solutions or cobbled together suites of products. They are the only SaaS Company to design a platform from one source code that manages all aspects of the employee life cycle for service industry employees both large and small.”
The latest funding will be used by the company for launching new products, investing in sales and marketing, and for international expansion.
As per the company, in past six months its customers have increase by 296%.
Recently PeopleMatter had also acquired an assessment provider PeopleClues with customers located in Australia, Canada, China, New Zealand and the United Kingdom.
PeopleMatter was founded in 2009 and is headquartered in Charleston, S.C.
StarVest Partners is a New York-based venture capital firm with USD 400 Mn under management. It funds technology-enabled business services companies throughout US, few of its recent investments include Host Analytics, Switchfly, The Receivables Exchange, Veracode and Xignite.
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