Rapidly Growing, Australia-Based Firm Will Tap Battery’s Expertise to Scale Operations Globally
San Francisco, California (GLOBE NEWSWIRE) - Battery Ventures, a global investment firm, has reached an agreement to make a significant investment in PageUp, a Melbourne, Australia-based maker of cloud-based, enterprise talent management software. Battery General Partner Chelsea Stoner and Vice President Paul Morrissey will join the PageUp board of directors as part of the transaction.
PageUp—which was founded in 1997 by Karen and Simon Cariss—is a leading provider of talent management software and has grown rapidly from its Australian origins. Today, PageUp has a significant international footprint in markets including the U.S., Asia and Europe and, in the past year alone, logged revenue growth of more than 60 percent from its U.S. operations. PageUp’s investments in product development have helped the company offer a fully integrated talent management suite, including products related to recruitment, employee onboarding, performance management, learning and career development, and succession management. PageUp’s software is delivered in 18 languages to more than eight million users in 190 countries.
The company will use some of the new funding to increase its already-significant focus on product research and development. In addition, PageUp plans to continue its global expansion and may seek acquisitions to offer more products to more customers in complementary markets.
“PageUp has built a best-of-breed, globally competitive talent management suite to help companies optimize their human capital—and built it fully in the cloud,” said Battery’s Stoner. “The company is a leader in its markets, and we could not be more excited to partner with PageUp to support its move into new areas and continue its growth.”
“We are at an incredible inflection point as a business,” said Karen Cariss, PageUp’s CEO. “Organizations globally are seeking out PageUp’s talent management system to attract, develop and retain great people, with technology that helps drive employee engagement and workplace productivity. We are thrilled to partner with Battery as part of our next growth chapter; the firm’s long history of scaling software-as-a-service (SaaS) companies in various industry sectors was a key factor in deciding to partner with Battery.”
Cariss started developing PageUp’s products after personally experiencing the challenges of managing job applications and inquiries when she advertised for software engineers to join PageUp in its early days. PageUp has gone on to serve a broad cross-section of industries, including higher education, retail, mining, manufacturing, business and financial services, as well as not-for-profit organizations and government. Large customers include Aldi Stores Australia, Myer, Downer EDI Ltd., Foxtel Management Group, TMF Group, Reserve Bank of Australia, Jollibee Foods Corporation, Medical University of South Carolina, Michigan State University, The Citadel, The Military College of South Carolina, Hong Kong Express.
On the back of PageUp’s recent 20th anniversary, the investment from Battery Ventures represents another significant milestone in PageUp’s growth. Both Credit Suisse and UBS acted as financial advisers to PageUp as it evaluated strategic alternatives leading up to the Battery investment. The Battery investment also marks the culmination of a successful multi-year partnership between PageUp and Accel-KKR, which made a strategic growth investment in PageUp in 2012.
Battery strives to invest in cutting-edge, category-defining businesses in markets including software and services, Web infrastructure, consumer Internet, mobile and industrial technologies. Founded in 1983, the firm backs companies at stages ranging from seed to private equity and invests globally from offices in Boston, the San Francisco Bay Area, London and Israel. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.comand find a full list of Battery's portfolio companies here.
PageUp is a global talent management Software-as-a-Service (SaaS) provider, offering a strategic talent management solution, delivered via the cloud. PageUp creates technology designed to help organizations streamline their people processes and strategically align their human resources across borders, business units, cultures and languages, to execute on corporate objectives. Accessible on any device, the PageUp platform empowers employers and HR personnel to overcome the talent management challenges that are inherent in operating across both developed and emerging markets
Co-founded in 1997 by Australian-born, Karen Cariss—the company’s driving force and CEO—PageUp has since expanded globally to support both local and multinational organizations, including several Fortune 500 employers. PageUp serves its global client base through offices in Melbourne (headquarters), Sydney, New York, London, Singapore, Hong Kong and Manila.
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SOURCE: Battery Ventures