PSG-backed payroll software provider Wagepoint buys KinHR

KinHR is the second acquisition by Wagepoint this year.

  • Calgary-headquartered Wagepoint is an online payroll software provider
  • The company earlier this year bought Timesheet Mobile
  • In 2020, PSG closed a majority recapitalization and growth investment in Wagepoint

Providence Strategic Growth (PSG)-backed Wagepoint, a provider of online payroll software for small business has acquired KinHR, a Chicago-based human resources software company. No financial terms were disclosed.

KinHR will become People by Wagepoint. The newly branded business will offer services such as an employee directory, time-off management, new hire onboarding, document storage and eSignatures, as well as ongoing employee performance management tools like employee objectives and reviews.

“Payroll and HR go together like summer and popsicles – minus the sticky fingers!” said Shrad Rao, CEO of Wagepoint. “When done right – that is, with a focus on keeping it simple and truly caring about the human experience – both payroll and HR can contribute to a happy workplace, just like ice cream! We’re excited to welcome People by Wagepoint to our family of products. Now, we can help our customers create a delightful experience for their employees, right from the moment of hire and at every touchpoint that follows.”

People by Wagepoint is the second software business to be acquired by Wagepoint in 2022. In January, it bought Westborough, Massachusetts-based Timesheet Mobile, rebranded Time by Wagepoint.

Boston-based PSG is the growth equity affiliate of Providence Equity Partners. The firm invests in growth-stage software businesses that to date has made over 100 investments and overseen over 400 add-on acquisitions. It was founded in 2014 and has since raised over $10 billion in capital.

In 2020, PSG closed a majority recapitalization and growth investment in Wagepoint.

*Editor’s note: the headline of this article was amended to make clear that PSG, rather than Providence Equity Partners, is Wagepoint’s backer.