Battery Ventures, a global investment firm, is making a significant investment in Melbourne-based PageUp, a developer of cloud-based enterprise talent management software. Financial terms of the investment are undisclosed.
The transaction will see Battery General Partner Chelsea Stoner and Vice President Paul Morrissey join the PageUp board.
Investment proceeds will be used on product research and development. Credit Suisse and UBS acted as financial advisers to PageUp.
The Battery investment also marks the culmination of partnership between PageUp and Accel-KKR, which made a strategic growth investment in PageUp in 2012.
The HR Software-as-a-Service (SaaS) firm, founded in 1997 by Karen and Simon Cariss, has an international footprint in markets including the US, Asia and Europe. The firm claims it has seen growth in its US operations in excess of 60 per cent.
The firm offers a fully integrated talent management suite, including recruitment, employee onboarding, performance management, learning and career development, and succession management.
PageUp software is delivered in 18 languages to more than eight million users in 190 countries. It caters to a broad cross-section of industries, including higher education, retail, mining, manufacturing, business and financial services, as well as not-for-profit organisations and government.
Large customers of the venture 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.