HR software may not be the most glamorous thing in the world, but it nevertheless continues to impress investors.
PeopleDoc, a provider of software for HR document management, is announcing that it has raised $17.5 million as its second round of institutional funding. Accel Partners led the round, with previous PeopleDoc investors such as Alven Capital and Kernel Investissement also chipping in.
PeopleDoc’s core services involve digitizing HR and employment documents and enabling companies to shift a lot of administrative tasks to its software, potentially helping them cut down on costs. Its suite of products includes digital file management, digital payroll, e-signatures, and case management.
The company already counts companies such as Dow Chemical, Total, Motorola, and Starbucks among its more than 150 customers.
“PeopleDoc’s cloud-based solution has seen impressive traction on both sides of the Atlantic, and its very intuitive interface and ease of deployment are praised by its clients. We look forward to supporting its continued global expansion and building a leading company in the HR cloud space,” said London, U.K.-based Accel partner Philippe Botteri in an official statement.
In addition to the tools its provides, PeopleDoc also claims it has a “no-training-required interface and cloud implementation” and that its customers will quickly start cutting costs that normally come with paper-based administration. Its tools also enable customers to comply with both global and local HR regulations and gain real-time disaster recovery.
PeopleDoc is not the only HR-focused company to displaying signs of health. Zenefits raised $15 million in new funding in January, Paycom filed for an IPO in March, and TriNet had a successful IPO that same month.
PeopleDoc is headquartered in France, where it is known as Novapost, and has since opened offices in New York City and Boston, Mass. The company last raised $2 million as its fourth round of funding from Alven Capital, Kernel Investissements, and PeopleDoc cofounders Jonathan Benhamou and Clement Buyse.
Founded in 1983, Accel Partners has a long history of partnering with outstanding entrepreneurs and management teams to build world-class businesses. Accel today invests globally using dedic... All Accel Partners news »
Philippe has been working in the technology industry for the past 13 years, most of it based in Silicon Valley. He joined Accel in 2011 to focus primarily on Cloud Computing, SaaS and Intern... All Philippe Botteri news »