PeopleGuru Announces Growth Financing to Further Disrupt the Payroll Outsourcing Marketplace and Accelerate Next Stage Growth Plans
PeopleGuru, a leading provider of software-as-a-service (SaaS) human capital management (HCM) and payroll software to mid-market companies, today announced a new growth equity investment to further disrupt the payroll outsourcing marketplace and accelerate next stage growth plans.
PeopleGuru, a market-leading provider of cloud-based, software-as-a-service (SaaS) human capital management (HCM) and payroll software,announced the closing of a growth-capital financing round. CF Holdings led the financing with prior PeopleGuru investors also participating. The funding will be used to expand customer service and sales investments.
PeopleGuru offers a true single HCM application with web and self-service mobile apps for human resources, benefits, payroll, timekeeping, and talent management. More than 300 mid-market companies throughout the U.S. use PeopleGuru products. PeopleGuru helps clients attract, retain, compensate, and engage their workforce with ultramodern software that is easy-to-use and vastly more capable, flexible, and comprehensive than traditional payroll outsourcers offer. PeopleGuru dramatically improves workforce productivity and eliminates the need for third-party bolt-on applications.
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“PeopleGuru is one of the only mid-market HCM software companies that is purpose-built for today’s modern workforce. The typical mid-market company uses HR and payroll technology that is decades old and often pieced together via multiple acquisitions,” said David Hain of Gotham Growth Group.
“We welcome this partnership with CF Holdings,” said Richard Cangemi, CEO of PeopleGuru. “There’s perfect alignment with their team on future expansion plans and capital needs for PeopleGuru, and their expertise in our core business brings much value to our partnership.”
“Maintaining employee data across loosely connected systems and separate databases is the reason it’s a lot of work for companies to have many different business systems in the first place,” said Paul Zugay Chief Technology Officer of PeopleGuru. PeopleGuru solves this problem by giving companies and employees convenient access to PeopleGuru and their own data—whether that be through a native mobile phone app, tablet, kiosk, or web browser—into a single highly efficient database making PeopleGuru the single source of truth, reporting, and analytics for all things related to HR and employee data.
Managing Partner, David Hain of Gotham Growth Group, served as a lead financial advisor to PeopleGuru for this transaction.
PeopleGuru, based in Tampa FL, develops and supports cloud-based Human Capital Management (HCM) software to help high-growth, mid-market organizations attract, retain, and engage their people and streamline back-office HR and payroll functions.
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