Accel-KKR said Feb. 1 that it completed the sale of PageUp People. Financial terms weren’t announced. PageUp, of Melbourne, Australia, provides human resources management software. Battery Ventures last month said it was investing in PageUp.
Menlo Park, CA, February 1, 2018 – Accel-KKR, a technology-focused private equity firm, today announced that it has completed its sale of PageUp People (“PageUp”). Accel-KKR, which made a growth investment in the Australia-based business in 2012, exits PageUp after seeing revenue growth of approximately 300% over the five-year partnership. PageUp provides human resources management software. It has been led by Karen Cariss since she founded the company in 1997.
Following its investment in 2012, Accel-KKR was instrumental in helping the company build a global organization, improve sales efficiencies, and invest in product research.
Greg Williams, Managing Director of Accel-KKR, said, “We have been extremely fortunate to work with Karen Cariss and the PageUp leadership team to drive significant growth and expansion of the business during our partnership. We wish them well and are looking forward to watching their continued success.”
“Accel-KKR was a true partner over the last five years in helping us realize our vision and strengthen our leadership position in the market,” said Karen Cariss, CEO and Founder of PageUp. “My team and I are excited to build on that success during this next chapter.”
Tom Barnds, Managing Director of Accel-KKR, said, “Accel-KKR’s investment focus, and our value-added capabilities, are increasingly global.”
Over the past six years, Accel-KKR has invested in 26 companies outside of North America. In addition, PageUp is the firm’s fifth realization from investments made outside North America including Dublin-based Clavis Insight, Belfast-based KANA Software, Vancouver-based Clevest and Oxford-based Zinc Ahead.
Accel-KKR is a technology-focused investment firm with $4.3 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London.
PageUp is a global talent management Software-as-a-Service (SaaS) provider, offering a strategic talent management solution, delivered via the cloud. PageUp creates technology designed to help organizations streamline their people processes and strategically align their human resources across borders, business units, cultures and languages, to execute on corporate objectives. Accessible on any device, the PageUp platform empowers employers and HR personnel to overcome the talent management challenges that are inherent in operating across both developed and emerging markets.
Co-founded in 1997 by Australian-born, Karen Cariss—the company’s driving force and CEO—PageUp has since expanded globally to support both local and multinational organizations, including several Fortune 500 employers. PageUp serves its global client base through offices in Melbourne (headquarters), Sydney, New York, London, Singapore, Hong Kong and Manila.