Investment to Accelerate Market Growth
Arlington, VA, Austin, TX, and Melbourne, Australia, December 18, 2018 – Acendre, a leader in secure, cloud-based talent management software for regulated industry verticals, today announced a majority growth investment from Strattam Capital. The investment will enable Acendre to accelerate its growth and more quickly advance its innovative, easy-to-use Software as a Service (SaaS) talent management platform, which helps organizations solve some of today’s most challenging hiring problems.
Acendre’s highly secure, configurable and interoperable talent management platform addresses the specialized needs of organizations in highly regulated industries including the federal government, healthcare, higher education, and mining. The solution is FedRAMP certified and maintains specific capabilities for the federal government such as Title 5 hiring practice workflow. Over 200 organizations around the globe, including almost 100 federal agencies, leverage Acendre’s award-winning solution to recruit, engage, retain and develop their employees to improve workforce performance. Acendre processes more than one million applications annually and is used by 300,000 candidates every month. The investment by Strattam will provide Acendre with the resources required to accelerate growth in both the United States and Australia.
“I am very excited about what this transaction means for our customers, partners and employees,” said Mike Giuffrida, co-founder and CEO of Acendre. “I was impressed by the Strattam team’s experience in the human capital market and cloud software, and by its understanding of the unique, innovative capabilities of our technology. We can now accelerate our plan to solve organizations’ workforce performance problems through improved sourcing, hiring, engagement, performance and learning. With our highly secure offerings, we are now in an even better position to continue to innovate and expand our lead in the market for HR in regulated industries.”
“We believe the HCM market will continue to grow, and believe companies like Acendre, with innovative solutions and a commitment to ensuring the security and privacy of its customers, will lead the way,” said Strattam Capital Managing Partner Bob Morse. “We’re very impressed with the company and solutions Acendre has built and are excited to work with Mike and his leadership team to build on the success and growth Acendre has experienced to date.”
Bowstring Advisors served as the exclusive financial advisor to Acendre.
Acendre is a worldwide leader in secure cloud-based talent management software and empowers organizations to increase their workforce performance. The company’s innovative solutions provide data and insight that address the unique needs of organizations in regulated industries that require a high level of configurability to manage complex workflows and interoperability challenges. Acendre serves both public and private sectors, including government, education, healthcare, utilities and mining.
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About Strattam Capital
Strattam Capital is a private equity firm with an innovative and focused approach to scaling established business IT companies. Our team’s alignment and engagement practices are designed to deliver a better future for our companies. Strattam has offices in Austin and San Francisco. To learn more visit www.strattam.com.