ROCHESTER, N.Y., April 23, 2019 — CEIPAL, a market-leading SaaS platform that automates both the front and back-office business operations of staffing companies, today announced it has raised a $7.5 million growth equity investment from Resolve Growth Partners, along with returning investor Mistral Venture Partners. This investment will support the scaling of the company’s product development, sales and support teams.
CEIPAL was founded in 2015 with a mission to bring innovative, market-leading software to the staffing market priced at a fraction of the cost of the legacy incumbent offerings. Today, CEIPAL serves over 1,000 customers and 12,000 recruiters globally. The product suite offers a complete workforce management platform including a fully integrated applicant tracking system (ATS) and human resource information system (HRIS).
“In partnering with Resolve, I was looking for a growth equity partner who shared our vision and commitment to innovation,” said CEIPAL founder and CEO Sameer Penakalapati. “Resolve brings deep software expertise and company-building best practices that CEIPAL needs to scale to the next phase of our journey,” Penakalapati added.
“We are thrilled to welcome CEIPAL to the Resolve portfolio. We founded Resolve specifically to partner with domain-oriented founders who have lived the problem they seek to address,” said Jit Sinha, Co-Founder and Managing Director of Resolve. “We share Sameer’s relentless commitment to building the most innovative software platform in the staffing space,” Sinha added.
Read the full release on Yahoo Finance