PrismHR, a Hopkinton, Mass.-based HR technology platform powering payroll, benefits and HR for small and medium-sized businesses across the U.S., received a majority investment from funds managed by Stone Point Capital.
Stone Point joined existing investor Summit Partners.
The company intends to use the funds to continue to accelerate growth across small businesses.
Led by Gary Noke, President and CEO, PrismHR provides an HR software platform and an ecosystem of HR service providers to enable SMBs to manage payroll, benefits, and HR. Today, the company’s software delivers HR services to more than 80,000 organizations and over 2 million worksite employees, processing greater than $80 billion in payroll each year.