Global growth equity investor Summit Partners announced the addition of Matt Rissell, founder of TSheets, to the firm’s Executive-in-Residence (“EIR”) program. In this role, Mr. Rissell will work closely with Summit’s technology team to identify new investment opportunities and advise growth stage companies in the software sector.
HR Technology News: TecHRseries Interview with Saray Ben-Meir, Chief of Staff at SQream
Mr. Rissell founded TSheets – a SaaS-based time tracking and scheduling platform – in 2006 and led the company until its $340 million acquisition by Intuit in 2018. He continued to lead the Eagle, Idaho-based TSheets team as part of Intuit’s Small Business and Self-Employed Group through late 2019. Mr. Rissell had bootstrapped TSheets, delivering profitable growth and a CAGR of more than 100% for nearly 10 years before raising Series A funding from Summit Partners in 2015. Under Mr. Rissell’s leadership, TSheets continued its rapid growth trajectory and expanded its customer base to serve more than 1 million users and employed more than 400 team members, consistently earning recognition for its workplace and culture. TSheets is currently ranked the #1 place to work in Idaho and rated the #1 software for small business on G2 Crowd.
“Matt is an incredibly talented leader and entrepreneur. With a customer-centric and data-driven approach to capital-efficient growth, Matt built TSheets into a leading SMB-focused software company with a growth profile, product sophistication and organizational scale that generated significant interest from prospective customers, partners and acquirers,” said Greg Goldfarb, a Managing Director with Summit Partners. “He brings substantial experience in successfully scaling SaaS businesses, particularly around product-led and partner-led growth strategies, and creating an authentic culture that can serve to accelerate this growth. We are thrilled to bring Matt’s perspective to Summit’s EIR program.”
“As a founder, I experienced first-hand the value, support and resources that Summit brings. When TSheets sought our first outside investor, it wasn’t about the money – it was about the people, the experience and intelligence they’d bring to growing my business,” said Mr. Rissell. “I was impressed with Summit’s belief in and commitment to helping founders scale bootstrapped, rapidly growing businesses. I’m thrilled to work with Greg and the Summit team once more, and I look forward to connecting with and working in support of growth-stage technology businesses and the entrepreneurs who lead them.”
HR Technology News: DHGE Launches Resilience Program for COVID-19 Frontline Workers