NorthEdge, a lower-market private equity firm, has made a primary MBO (management buyout) in human capital management provider Cezanne HR.
With this fresh backing, Cezanne hopes to further its customer acquisition and retention efforts, hire more staff and bolster its product development.
Cezanne has built a software platform for mid-size businesses across the UK and internationally. Its technology covers the entire employee lifecycle, helping firms streamline and simplify HR processes, enabling better HR insight and employee engagement, and reduce data administration.
Features of the SaaS platform include people management, onboarding, absence management, time tracking, performance management, recruitment, payroll and more. Its technology supports over 120 countries.
Alberto Gabbai CEO of Cezanne said, “The partnership with NorthEdge marks the beginning of an exciting new chapter for Cezanne HR. NorthEdge’s support will give us more strength, financially and otherwise, to accelerate our growth towards becoming the leading provider of cloud-based leading-edge HR and payroll solutions to the UK market.
“NorthEdge’s backing means we can broaden our value proposition to all customers by evolving and widening our software and our services, and by continuing to invest in our people we can maintain our best-in-class and highly effective customer service approach – supporting our goal to deliver the highest level of customer satisfaction and success.”
NorthEdge tapped its £120m NorthEdge SME Fund I for the deal.
Another payroll system to recently close fresh funding was Wingspan. The company raised $14m for its Series A round, which was led by Andreessen Horowitz. Other backers included Distributed Ventures, Long Journey Ventures, Ludlow Ventures, and 186 Ventures.
The company serves as an all-in-one, callable solution for companies to onboard, pay and support contractors.
Keep up with all the latest FinTech news here.
Copyright © 2023 FinTech Global