11/3/2023 0 Comments Prism hr annual report![]() PrismHR founder Fred Davison continues to be a significant shareholder in the Company. Existing investor Accel-KKR invested alongside Summit Partners in the transaction and Greg Williams, Managing Director, will remain on the PrismHR board. ![]() Collins, Summit Partners Vice President, Zachary Gut will join the PrismHR Board of Directors. “We can now build out the next phase of our corporate strategy and products, allowing our clients to take full advantage of the scale, resources and depth of the PrismHR platform – and to accelerate their own growth in the process.” “This new capital, combined with Summit Partners’ extensive resources and experience, will help us to execute on our vision faster than ever,” added Noke. “The company’s cloud-based software allows HROs to service their small and medium-sized customers with a more seamless, sophisticated solution – and positions PrismHR to capitalize on the tremendous opportunity in human resources technology and services.” “PrismHR’s recent growth has been remarkable, and we believe the company is well positioned to continue this impressive trend,” said Scott Collins, Managing Director at Summit Partners who will join the PrismHR board of directors. Video: Why PrismHR’s Financial Backing Helped Aureon Choose PrismHR Increased the number of HR Service Providers using PrismHR software by 94%, which led to 50% growth in worksite employees.Expanded the platform with applicant tracking, mobile capabilities, next generation benefits enrollment, integrated time support and enhanced extensibility.Released the next generation of the PrismHR Platform – the HR outsourcing solution for Payroll, Benefits, HR and more.Increased total revenue and headcount by nearly 3x.PrismHR has realized strong growth since Accel-KKR made an initial equity investment in 2014. Our partnership with Summit will enable us to accelerate the development and expansion of this platform to meet the growing demands of our clients and their end customers.” “PrismHR offers one of the most extensive and flexible platforms available to HROs. “As the human resources function increases in complexity, the demand from small and medium-sized businesses for outsourced HR solutions continues to grow,” said Gary Noke, President and CEO of PrismHR. ![]() PrismHR helps those HR organizations save time, improve productivity, mitigate risk and attract, win and retain business more effectively than any other available solution. With over 20 years of experience in the field of human resources, PrismHR provides comprehensive software solutions for professional employer organizations (PEOs) and administrative service organizations (ASOs). This transaction includes new funding that will help propel the delivery of additional software and services to the more than 340 HRO organizations that use PrismHR software today, helping them grow and thrive. SOUTHBOROUGH, MA and BOSTON, MA ― PrismHR, the leading provider of software for human resource outsourcing (HRO) service providers, today announced a majority investment from global growth equity investor Summit Partners.
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