Accel-KKR stood out to PrismHR during the company’s capital raise process due to AKKR’s experience working with human capital management (HCM) software companies. Specifically the management team of PrismHR valued the opportunity to work with other HCM companies in AKKR’s portfolio. Management discussions culminated with an investment in 2014.
PrismHR began in 1985 as a founder-owned software company known as F.W. Davison. Founder and CEO, Frederick Davison, built the company into a dominant workflow software provider to PEO organizations (Professional Employer Organizations). Observing the fragmented space in which it operated, the company sought growth capital to capitalize on organic and inorganic opportunities.
Throughout the investment period between 2014 and 2019, PrismHR worked actively with Accel-KKR to significantly transform its business:
Equally important, the investment ensured a smooth succession plan for the founder CEO and enabled a seasoned executive from within the company to take the reins and to continue driving an aggressive growth plan.
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