Investment to Accelerate Company’s Growth and Catalyze M&A Expansion Opportunities
Menlo Park, CA and Zaragoza, Spain – January 14, 2021 – Endalia, a leading human capital management (“HCM”) and payroll SaaS software provider to mid-market businesses in Spain, today announced that it has received a majority growth investment from Accel-KKR, a leading global software-focused investment firm headquartered in Silicon Valley.
The investment marks Accel-KKR’s first platform investment in Spain, second investment overall in the country and 52nd investment in the EMEA region since 2013 when it established a European presence, making Accel-KKR one of the most active software private equity firms in Europe. As one of the most active private investors in software, Accel-KKR closed 42 investments and acquisitions in 2020.
Endalia is one of the only fully integrated, cloud-based HCM and payroll solutions targeting medium and enterprise businesses in the Spanish market. The company offers 15 different HCM modules including benefits administration, compensation, org structure management, travel and entertainment, training, workflow management, and internal communication that are fully integrated with payroll, providing an end-to-end HCM solution for companies in the Spanish market.
“Taking a moment to reflect on the past, we are very satisfied with how far Endalia has come and what we’ve achieved together. We are grateful to everyone who has contributed to the development of Endalia and who has helped us get here. We especially want to thank our customers for their trust, which has driven us to improve every day,” said Fernando Cortes, founder and CEO of Endalia. “The entire Endalia team is enthusiastic to begin a new phase, hand in hand with Accel-KKR, to grow, invest, and innovate. We are very excited to accelerate the development of our technology and products so that our clients have the best solutions in the market for the digital transformation of their Human Capital Management and Payroll workflows.”
“Spain is a highly complex market for payroll providers with intricate laws and different regulations throughout various regions in the country,” said Tom Barnds, Co-Managing Partner of Accel-KKR. “We are excited to partner with Endalia to continue providing the tools, products and resources that clients need to navigate the complex Spanish HCM and Payroll landscape.”
“Fernando and the entire Endalia team have succeeded building a user-friendly, mission-critical HR SaaS solution to effortlessly manage HR administration across Spain,” said Phil Cunningham, Operating Executive at Accel-KKR and Board Member of Endalia. “We are excited to partner with Fernando to continue to invest in providing a best-in-class HR SaaS solution to accelerate growth and bring continued innovation to the Spanish HR space for many years to come.”
Accel-KKR partnered with Santander and Tresmares Capital on the financing for this investment.
Cuatrecasas, Morales & Besa and Brodies LLP served as legal advisors to Accel-KKR. Norgestion served as M&A and legal advisors to the sellers.
About Endalia:
Founded in 2007, Endalia specializes in human capital management (“HCM”) and payroll solutions capable of managing over 15 different HR functions and accurately calculating payroll in Spain. The Company is unique in being one of the only fully-integrated cloud offerings in the Spanish market that provides both a SaaS software product for internal HR management as well as specialty software enabled services (“SES”) for customers that are looking for a professional, outsourced HR experience.
With the “HR Lovers” rally cry, Endalia’s culture passionately pursues helping clients navigate a complex payroll landscape in Spain as well as implementing strong internal HR organizational processes. Their focus and emphasis on providing market-leading products, automating manual HR processes, and providing exceptional customer service has enabled Endalia to emerge as a premier software solution for Spanish companies’ HR needs. For more information, please visit Endalia.com.
About Accel-KKR:
Accel-KKR is a technology-focused investment firm with over $10 billion in capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. In 2019 and 2020, Inc. named Accel-KKR to “PE 50 – The Best Private Equity Firms for Entrepreneurs”, its annual list of founder-friendly private equity firms. Accel-KKR is headquartered in Menlo Park with offices in Atlanta, London, and Mexico City. Visit accel-kkr.com to learn more.
