Visier, a San Jose, CA- and Vancouver, BC, Canada-based provider of workforce analytics and planning solutions, raised $25.5m Series C funding round.
The round was led by Adams Street Partners with participation from existing investors Foundation Capital and Summit Partners. The majority of the capital ($24 million) was generated by investors, with the remaining funds ($1.5 million) secured from friends and family. In conjunction with the funding, Mike Zappert, Principal, Adams Street Partners, joined Visier’s Board of Directors.
The company intends to use the funds to broaden adoption of its solutions within the Human Resources (HR) market and penetrate new areas.
Led by John Schwarz, Founder and CEO, Visier provides a cloud-based workforce analytics and planning platform. With its solutions, organizations can leverage data from disparate sources to predict how workforce behaviors (such as future employee recruitment, promotion, and turnover patterns) will change, and use this insight to create, analyze, and collaborate on plans to optimize the workforce.
Customers include Exelon, McGraw Hill Financial, Time Inc., Baker Hughes, NetApp, and USG Corporation.
Headquartered in , Visier delivers workforce analytics and planning solutions in the cloud, designed to empower teams with the insights they need to better see, understand, and make decisions about their business. Visier achieves this by delivering intuitive analytics and planning solutions, built to answer key business questions, predict future events, and optimize operational efficiency. Founded by business intelligence experts—including former Business Objects chief executive officer, John Schwarz—the company’s leadership team has a proven track record of technical, operational, and strategic management success with companies such as IBM, SAP, and Oracle. With more than two million customer employee records in the cloud and counting, Visier is experiencing significant growth.
About Adams Street Partners
Adams Street Partners is an independent, employee-owned private equity firm that manages over $25 billion of committed capital for institutional investors. The firm has offices in Chicago, Menlo Park, London, Beijing and Singapore. Adams Street was a pioneer in the development of the private equity secondary market, closing its first secondary transaction in 1986. The dedicated secondary investment team of professionals in London, Singapore and Chicago executes a selective, global investment strategy following a theme-based approach that leads to targeting specific funds. Adams Street Partners is widely recognized as the oldest fund of funds manager in the industry, establishing its first such fund for institutional investors in 1979. For more information, please visit www.adamsstreetpartners.com.
About Summit Partners
Founded in 1984, Summit Partners is a growth equity firm that has raised nearly $15 billion in capital. Summit has invested in more than 385 companies in technology, healthcare, and other growth sectors. These companies have completed more than 130 public offerings, and more than 140 have been acquired through strategic mergers and sales. Notable investments in the software sector include Clearwater Analytics, GoldenGate Software, Hyperion Software, McAfee, Postini, ProClarity, RightNow Technologies and Unica. Summit maintains offices in North America and Europe, and invests in companies around the world. For more information, visit www.summitpartners.com or follow on Twitter at @SummitPartners.
About Foundation Capital
Foundation Capital is dedicated to the proposition that one entrepreneur’s idea, with the right support, can become a business that changes the world. Foundation Capital has helped companies like Atheros create the mobile Internet, EnerNOC invent the energy demand response market, and Netflix revolutionize media distribution and consumption, among many others. Foundation Capital is currently invested in more than 80 high-growth ventures in the areas of consumer, information technology, software, semiconductors, and clean technology including BoardVantage, Chegg, Coverity, Lending Club, MobileIron, Simply Hired, Sunrun, TubeMogul and Venafi. Foundation Capital’s nineteen IPOs include Control4, Envestnet, Financial Engines, Netflix, NetZero, Responsys and Silver Spring Networks. For more information, visit www.foundationcapital.com.