CIP Capital has made an investment in Exton, Pennsylvania-based People 2.0, a provider of tech-enabled workforce deployment solutions. No financial terms were disclosed.
April 24, 2019 | Exton, PA – CIP Capital has completed an investment in People 2.0 (“People 2.0” or the “Company”), a leading global provider of technology-enabled workforce deployment solutions. The Company’s employer of record (“EOR”) and outsourced back-office solution offering enables its clients to accelerate the growth of their businesses and provides risk management and regulatory compliance expertise while driving operating efficiencies. People 2.0 serves a broad base of providers across the contingent workforce ecosystem, including staffing firms, recruiting firms, MSPs, RPOs, and online recruitment platforms. The Company is headquartered in Exton, PA and maintains additional offices in Houston, TX and Toronto, Canada.
“Our partnership with CIP Capital represents a very exciting day in the history of our company,” said Chuck Miller, co-founder and co-CEO of People 2.0. “Over the years, we have taken great pride in how our best-in-class EOR and outsourced service offering enables our clients to dedicate their focus on sales and service in order to effectively scale their businesses. This strategic investment from a like-minded partner will enable us to continue to further build out our organization, technologies and solutions in order to better serve our clients.”
Erik Vonk, co-CEO of People 2.0, added: “The global contingent talent ecosystem is rapidly expanding and evolving. People 2.0 has been built with the vision to serve clients across a diverse range of workforce arrangements and supply chains. CIP Capital is completely aligned with our growth-oriented strategy and we are very excited to expand our presence in both our existing markets and new geographies.”
“People 2.0 has developed a highly unique and differentiated platform to meet the complex needs of its clients around workforce deployment solutions. The Company is well-positioned to help providers adapt to the changing demands and compliance requirements of the modern contingent workforce,” said Bobby Kelly, Partner at CIP Capital. “We look forward to partnering with Chuck, Erik and the People 2.0 team to further expand and enhance their leading solution offering and client service capabilities on a global basis.” People 2.0 represents CIP Capital’s fourth investment in the human capital management industry.
About People 2.0:
As a leading provider of back-office solutions for human capital management organizations, People 2.0’s employer of record (EOR), agent of record (AOR), and statement of work (SOW) services allows human capital service companies to focus on what they do best: offering great customer service and placing top talent. We provide our clients with the ability to deploy workers anywhere in the U.S., Canada and globally. For more information please visit: www.people20.com.
About CIP Capital:
CIP Capital is a New York-based private equity firm focused on investing in growth-oriented, middle-market companies across the Business Information and Tech-Enabled Services sectors in North America. The fund seeks to invest in proven, profitable businesses that provide their customer bases with critical information, data-driven insights, and value-added outsourced services. CIP Capital targets investments in sectors including business services, data-driven marketing services, human capital management and knowledge services. For more information please visit: www.cip-capital.com.