SilkRoad technology, Inc., a global provider of web-based human resource management solutions, has closed a $40m funding round.
The investment was led by new backers Intel Capital and Tenaya Capital, with participation with existing shareholders Foundation Capital, Azure Capital and SilkRoad Equity.
Launched in 2003, the company plans to use the funds to expand its worldwide direct sales and marketing efforts, make strategic acquisitions and continue product development.
SilkRoad’s Life Suite is designed to allow human resource professionals to strengthen and personalize employee experiences, resulting in a more motivated and engaged workforce. The company currently serves over 1,500 customers in more than 50 countries, operating office worldwide.