Avionté, Inc, a leading provider of software for recruiters and staffing, announced an investment be Serent Capital, a growth equity firm based in San Francisco that focuses on investing in profitable, high growth businesses. For more details regarding the partnership, please see the full press release:
“Avionté had an exceptional track record of success over the last few years by putting customers first,” said John Long, CEO of Avionte. “We didn’t need to raise money, but I was looking for an investment partner who could help me grow the business while enhancing our commitment to serving our customers. We felt that Serent was the perfect partner to help us expand our business and improve our customer service. Serent’s experitse and resources will be invaluable as we take our company to the next level.”
Avionté Staffing Software provides an innovative suite of front- and back-office software products to the human resources industry. In 2013, the company reported a revenue growth of more than 36 percent year-over-year and net profit up over 95 percent, making it the eighth consecutive year the company has reported a revenue growth over 35 percent.
In addition to ranking on the Inc. 5000 fastest-growing list for the second year and being recognized with several cultural workplaces awards, the software company’s user base climbed to nearly 7,000 in 2013 with a retention rate of over 99 percent.
Serent spent considerable time pursuing an investment theme in the HR technology market. “Avionté has established itself as a leader in the staffing technology market thanks to its robust technology and strong customer service,” said Kevin Frick, co-founder and General Partner of Serent Capital. “The company has an incredibly loyal customer base, and we are excited to help Avionté deepen and expand its customer relationships. We are particularly enthusiastic to back CEO John Long, who is maintaining his equity ownership in the company. His strong leadership will continue to be instrumental in driving Avionté forward.”