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INDUSTRY:
Business Services
WHAT:
TripleTree led Peopleclick through its
first round of institutional capital raising $7.0
million |
THE
ESSENTIALS:
TripleTree strongly believed in the value proposition
championed by Peopleclick’s model and met
the Company’s objectives in engaging an
advisor that would make the early-stage company
a high priority engagement. |
Peopleclick provides
workforce solutions to help enterprises efficiently
build and manage a productive and diverse workforce.
Based in Raleigh, North Carolina, with international
headquarters in London, Peopleclick offers Global 2000
companies technology and services for recruitment management,
vendor management, employee management and affirmative
action/EEO compliance. As a first mover in providing
propriety applications on an outsourced, hosted model,
the Company has positioned itself as a leading HR solutions
firm with a client base that consists of such name brand
firms as Siemens, Novartis, Motorola, Best Buy, Cingular
Wireless, IBM, and Watson Wyatt.
Seeking to fund additional growth,
Peopleclick’s management team looked to secure
sufficient funding to gain substantial traction in the
Company’s core outsourced/hiring process management
market. The Company had achieved rapid success under
a propriety hosted application model that provided recurring
revenue under long-term contracts. As an early proponent
of proprietary ASP models challenging the software industry’s
traditional license sales approach, TripleTree strongly
believed in the value proposition championed by Peopleclick’s
model and met the Company’s objectives in engaging
an advisor that would make the early-stage company a
high priority engagement. Selecting investors that understood
this value proposition would be critical to the financings
and Company’s success.
“TripleTree
did a great job of helping us position our company
for our first institutional round of financing.
In particular, their ability to guide us through
the negotiation process and structure an acceptable
deal for the company ownership was invaluable.”
-
Ron Kupferman
Chairman, Peopleclick
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Capitalizing on Peopleclick’s
early momentum within the recruitment automation market,
having signed such clients as IBM, BlueCross/BlueShield,
International Paper, Boeing GlaxoWellcome and AT&T,
TripleTree led Peopleclick through its first round of
institutional capital raising $7.0 million. Leading
the financing were private equity firms Lovett Miller
& Co. Inc., North Carolina Enterprise Fund LP and
Primus Venture Partners, Inc. Subsequently, the company
has gone on to raise an additional $23.5MM from investors
including Morgan Stanley Dean Witter Venture Partners.
Peopleclick has become a market leader in the human
capital management space, and continues to expand its
early position in recruiting to adjacent workforce sectors.
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