PURCHASE, N.Y.–(BUSINESS WIRE)–June 9, 2003–HR Technologies (HRT), a leading provider of analytical human capital management (HCM) software, announced today that it has recently closed on $2.75million of financing from three venture funds, led by Zon Capital Partners.<\/p>\n
The company’s second round of financing will be applied to expand sales and marketing efforts and to further extend the company’s lead in product development.<\/p>\n
HR Technologies offers a complete solution for building and leveraging workforce competencies into powerful management tools that enable executives to accurately predict, drive, and measure performance and productivity. The company’s flagship product, HRScope(TM), represents a dramatic evolution for Human Capital Management. A competency-based strategic workforce management system, HRScope provides data, decision analysis, and automated workflow tools that empower HR managers to evolve into strategic decision-makers within their organizations. Current HR Technologies customers include CNA, Columbia House, Whirlpool and Siemens Building Technologies.<\/p>\n
“HR Technologies represents a breakthrough in the way that an organization can recruit, train, measure and predict the performance of its people against its business strategy,” commented Bill Bridgers, general partner, Zon Capital Partners. “We are excited about the positive results that HRT has achieved thus far, and we are sure that the company will be a growth story in the increasingly important Human Capital Management arena.”<\/p>\n
Other investors in the round include Cross Atlantic Capital Partners and existing investor, Early Stage Enterprises. Concurrent with the financing, Bill Bridgers of Zon Capital and Darren C. Wallis, senior associate at Cross Atlantic Capital Partners, will become members of the HR Technologies Board of Directors.<\/p>\n
“We are delighted to be joined by such an experienced group of investors as we further commercialize our thought leadership position in the HCM industry,” said David Hain, chairman and CEO of HR Technologies.<\/p>\n
About Zon Capital Partners<\/p>\n
Zon Capital Partners is a private equity fund headquartered in Princeton, New Jersey with offices in Radnor, Pennsylvania. Zon focuses on direct investments of $1 to $2 million in expansion stage software and communication companies, primarily located in the Mid-Atlantic region of the US. The fund was founded to leverage the extensive experience of its managing partners by investing and working collaboratively with seasoned entrepreneurs to help build and grow their businesses. For more information visit www.zoncapital.com.<\/p>\n
About Cross Atlantic Capital Partners<\/p>\n
Founded in 1999, Cross Atlantic Capital Partners, which has more than $350 million under management, concentrates its investments in technology companies located in the United States, Ireland, and the United Kingdom. Its portfolio includes Gain Capital, eCount, Marrakech, and Rubicon Technology. For more information visit www.xacp.com.<\/p>\n
About Early Stage Enterprises<\/p>\n
Early Stage Enterprises, LP (ESE) is a private venture capital fund organized to provide capital and guidance to early stage companies in the Mid-Atlantic region. ESE has $44 million to invest and works closely with management to nurture and build companies of real and lasting value. ESE is licensed by the U.S. Small Business Administration as a Small Business Investment company (SBIC). For more information visit www.esevc.com.<\/p>\n
About HR Technologies<\/p>\n
Founded in 1995 by Paul Storfer and Dick Beatty, HR Technologies provides the technological tools, quantitative techniques, and related content required for the effective management of human assets. HRT provides strategic workforce management software solutions to companies seeking to enhance their hiring, deployment, and retention processes to promote sustainable corporate growth. Leveraging strategic alliances with industry leaders, HRT combines its expertise in competency development, succession planning, human resources planning, training, and employee recruitment and selection to offer a level of experience unparalleled in the industry. For more information visit www.hrscope.com.<\/p>\n","protected":false},"excerpt":{"rendered":"
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