SyncHR successfully closes $16 million round of funding led by NEA
SyncHR, a leader in Human Capital Management (HCM) cloud-based software, announced today that the company recently secured $16 million in additional funding. The Company’s existing investors New Enterprise Associates (NEA), Boulder Ventures, Grayhawk Capital and EPIC Ventures all participated in the round, along with new investors Acadia Woods and Peninsula Ventures. This investment positions the company to continue its rapid growth with expansion of its customer success and go-to-market teams, and additional investments in product development.
“We have been extremely pleased with SyncHR’s performance and the results that CEO Pamela Glick and her team have achieved so far,” said Ryan Drant, who represents NEA on SyncHR’s board. “We want to ensure that the company is well-capitalized to achieve its goals of growing the business and delivering a differentiated product to underserved mid-market enterprises.”
“The unparalleled automation and innovation that SyncHR continues to deliver to the HCM space is what differentiates their SaaS platform,” said Peter Roshko, General Partner at Boulder Ventures, “We feel that they are well positioned for accelerated growth.”
The new capital comes after a year of record growth for the Denver, Colorado-based HCM software company. To continue its high-growth trajectory, SyncHR is committed to invest the capital in development of its next-generation HCM platform, as well as mid-market penetration to direct end-customers and through key business partnerships.
“SyncHR appreciates the continued support of NEA, Boulder Ventures, Grayhawk Capital and EPIC Ventures, and is thrilled to welcome Acadia Woods and Peninsula Ventures as investors,” said Pamela Glick, Chief Executive Officer of SyncHR. “We’ve made tremendous strides in moving up market. This success can be directly attributed to the many talented and passionate employees, and to the support of the SyncHR board and our investors.”