WorkForce Software, a Livonia, Michigan-based provider of workforce management solutions, received a majority equity investment from New York-based Insight Venture Partners.
The amount of the transaction was not disclosed.
The company intends to use the proceeds for global expansion, including scaling operations.
Founded in 1999 by Kevin Choksi, CEO, WorkForce Software provides a cloud-based workforce management suite for worldwide clients to which enables organizations to automate time and attendance processes, manage employee absence and leave, optimize staff scheduling, gain real-time visibility into labor costs and productivity, and mitigate the risks associated with employee fatigue.
Following the transaction, Kevin Choksi, and the current executive team will continue to lead the company. Ryan Hinkle, Managing Director at Insight Venture Partners and Ross Devor, Vice President, will join the Board of Directors.
FinSMEs
24/04/2014