Intersouth-backed PeopleMatter raises another $2.3 million
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NORTH CHARLESTON, S.C. – Venture-capital backed PeopleMatter, a developer of human resources software, has raised another $2.3 million.
Harbert Venture Partners, which is based in Virginia, invested the funds as part of an expanded Series A round for PeopleMatter.
The startup, which operates through a software-as-a-service model, is also backed by Durham, N.C.-based Intersouth Partners. PeopleMatter has now raised $7.2 million.
The funding will be used for product development.
“PeopleMatter is truly visionary in its definition of the way employers connect with their employees and job candidates,” said Wayne Hunter, managing partner of Harbert Venture Partners, in a statement. He joins the company’s board as part of the investment.
PeopleMatter targets small- and mid-sized businesses.
“The financing from Harbert Venture Partners brings us one step closer to launching a smart, powerful HR management tool,” said Nate DaPore, PeopleMatter’s chief executive officer. “Our new product comes at a time when small to mid-sized employers need a more cost effective method to grow and retain the employees that make their company shine. Up until now, a system like this was simply beyond the reach of smaller employers.”
Added Mitch Mumma, a board member from Intersouth: “This company is poised to do exciting things in a market that has been underserved, and will enter the market at a critical time as many small and medium-sized businesses strive for greater efficiencies in strategic human resources.”
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