Newcastle, Australia, (January 13, 2020) — Pegasus, the leading workforce competency management system, today announced it has secured a significant growth investment from Accel-KKR, a leading Silicon Valley technology-focused investment firm. Headquartered in Newcastle, Australia, Pegasus manages the safety and competency of over 3 million workers for more than 80,000 companies.
“With employment growth worldwide coming from external workforces, Pegasus is well positioned to grow its well-established worker networks”, said Accel-KKR Principal Joe Porten, who will join the board of Pegasus. “We are very excited to partner with Pegasus to further accelerate organic growth domestically, expand geographically and augment that growth with strategic acquisitions.”
Pegasus will use the funding to rapidly expand its presence in the United Kingdom, Europe and North America building on its successful entrance into these markets. The funding will also expand on Pegasus’ unique product set as well as growing the Newcastle-based team.
“Forged in deep industrial expertise, our first software product was created to keep Australian workers safe on site. Two decades later, we’ve reinvented workplace labour and safety management for the modern company and mobile worker”, said Pegasus CEO Adam Boyle. “We’re positioned for rapid growth with our sights firmly set on protecting workers not just in Australia, but across the world.”
Pegasus is a worker’s passport, a company’s workforce partner, and the industry’s connection to a safe, competent, productive workforce.
Created in 1998 to keep Australian industrial workers safe on site, Pegasus connects workers, contractors and assets in real-time on nearly 2,500 worksites for companies including Woolworths, BHP, Visy, Lendlease, Aurizon and Ausgrid. It’s the industry workforce management solution for mining, rail & transport, construction, manufacturing, retail, and facilities management & utilities. For more information, visit pegasus.net.au.
Accel-KKR is a technology-focused investment firm with over $9 billion in capital commitments. The firm focuses on software and IT-enabled businesses well-positioned for top-line 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. Accel-KKR is headquartered in Menlo Park with additional offices in Atlanta and London.