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Will Accelerate Expansion of Cloud-Based Services That Deliver Trusted HR Knowledge and Tools to Reduce Risk and Drive Efficiencies
PLEASANTON, Calif.—August 22, 2018—ThinkHR, the leading provider of trusted HR knowledge software and services, today announced a growth equity investment of $67.5 million from Guidepost Growth Equity. The investment will accelerate innovation and adoption of the company’s unique HR knowledge platform, which currently serves more than 125,000 employers and 850 business partners, including seven of the 10 largest insurance brokers, as well as top payroll providers, HR technology providers, and professional employer organizations (PEOs).
Founded in 2005 by insurance, HR, and technology veterans, ThinkHR enables partners to easily integrate HR knowledge into their products and services for human capital management (HCM), thus accelerating time to market and increasing value to their customers. ThinkHR’s platform features hundreds of thousands of answers to HR compliance issues, plus in-depth training courses, newsletter content, HR tools, and an employee handbook builder – all of which are supported by access to live advisors who help HR and business leaders manage complex workforce issues.
“ThinkHR boasts an impressive leadership team, a compelling vision for the market, an innovative product set and roadmap, and exceptional customer retention rates,” said Roshen Menon, managing partner at Guidepost Growth Equity. “We are excited about ThinkHR’s strategy to accelerate growth in existing and new markets, and we are thrilled to help the company fully realize the opportunity.”
ThinkHR’s services put a human interface on software as a service (SaaS), making it fast and easy for HR and business leaders to address challenges – from the simple to the complex and costly – while ensuring compliance with evolving state and national regulations. For example, employee handbooks and a variety of compliance documents can be easily created by HR professionals using ThinkHR’s tools, as well as available white-glove consulting services. Employers also benefit from critical risk and compliance essentials including hundreds of training courses, comprehensive resources covering safety and OSHA regulations, risk assessment audits, employee classification, and salary benchmarking tools.
“ThinkHR has invented a new model for delivering trusted HR knowledge,” said Pete Yozzo, founder and CEO of ThinkHR. “By combining expert human support with innovative cloud-based tools, we’re creating a new category that fills an important gap for employers, brokers, and HCM partners. We are thrilled to partner with Guidepost, which sees the same disruptive potential we see in this massive market opportunity.”
As part of the investment, Menon and Guidepost colleague Chris Cavanagh will join the ThinkHR board of directors. Also joining the ThinkHR board will be two HR industry veterans – Larry Dunivan, former chief revenue officer of Ceridian, a global HCM leader, and Mike Gaburo, former chief operating officer of Paycor, a leading provider of mid-market HCM solutions.
ThinkHR delivers HR knowledge solutions that combine the best of human expertise and innovative technology. Our cloud-based software and live HR and compliance advisors help employers reduce risk, drive efficiencies, and resolve people-related issues quickly and efficiently. ThinkHR serves more than 125,000 employers and 850 business partners, including top insurance, payroll and HR technology providers. The company was founded in 2005 and is headquartered in Pleasanton, California. For more information, visit thinkhr.com or follow ThinkHR on Facebook, LinkedIn or Twitter (@RealThinkHR).
About Guidepost Growth Equity
Guidepost Growth Equity is a leading growth equity firm that partners with technology companies offering innovative solutions in large, dynamic markets including tech-enabled services, communications and infrastructure, and data and information services. Current and prior investments include OutSystems, WP Engine, Dyn (acquired by Oracle), Jive Communications (acquired by LogMeIn), and ProtoLabs (IPO on NYSE). Guidepost Growth Equity provides the flexible capital, operational support, and strategic guidance necessary to support the continued success of growth-stage businesses and has over $1 billion of capital under management. For more information, please visit our website at guidepostgrowth.com.