Ascentis Receives Funding from Catalyst Investors
Bellevue, Wash., December, 2012 – Ascentis Corporation, a market leader in easy-to-use human resources software, online payroll services, and human capital management (HCM) solutions, today announced it has secured funding from Catalyst Investors, a technology-focused growth equity firm. Ascentis’ software-as-a-service (SaaS) technology increases productivity by automating HR and payroll processes, reducing costs, and providing meaningful insights into organizational trends.
The new capital comes after a record year of growth for the Bellevue, Wash.-based HCM software company. In September Ascentis announced extraordinary growth for the first half of 2012 and a 76% increase in new clients over the same time period in 2011, as well as the inclusion on the JMP Securities Hotlist 100 for the second year in a row. In addition, Ascentis recently released powerful new analytics capabilities that visualize performance data and workforce trends, and mobile-optimized HRIS and employee self-service.
“We are extremely pleased about Catalyst as an investor in Ascentis and the addition of members of Catalyst to the Ascentis board,” said DJ Chhabra, CEO of Ascentis. “Catalyst has a strong track record in growing SaaS companies and we’re excited to work with them to leverage this recent investment to support our growth initiatives which include a substantial investment in product development, sales and services.”
“Ascentis differentiates itself from other vendors in the rapidly growing HCM space with both its commitment to superior client experience and its innovation in product development,” said Tyler Newton, partner and research director with Catalyst Investors. “Catalyst is thrilled to partner with DJ and his team and to support Ascentis in its next phase of growth.” Ascentis is ramping up investment in research and development, and adding new features and capabilities to its already powerful portfolio of solutions. This additional investment will deliver new capabilities that current and future clients can use to address their HCM needs.
Ascentis offers easy-to-use workforce management HRIS, online payroll and timekeeping solutions that support greater business efficiency and accuracy. Ascentis technology automates critical processes such as full-scale benefits management, compliance, online open enrollment, time and attendance, real-time payroll processing, tax filing, applicant tracking, employee and manager self-service and reporting. One point of data entry means employee information is accurate, up-to-date and reportable. Electronic submission of information to insurance carriers eliminates errors and supports a paperless open enrollment process. Ascentis offers world-class customer service and continues to add software offerings to its portfolio of workforce and human capital management solutions.
About Catalyst Investors
New York-based Catalyst Investors is a growth equity firm focused on technology-enabled services including cloud computing, wireless infrastructure and digital media. Catalyst was founded in 2000 and is investing its third fund. A proactive investor, the firm draws on its extensive industry expertise to work in true partnership with management to build long-term value. Past and present Catalyst portfolio companies include Aloha Partners; InSite Wireless Group; Latisys; MessageLabs; MediaMath; MINDBODY; Nine Systems; WeddingWire; and Xplornet. For more information, visit www.catalystinvestors.com.
For more information about Ascentis, send inquires to [email protected] or contact Heather Bansemer.