Source: SyncHR
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SyncHR Successfully Closes $16 Million Round of Funding Led by NEA

DENVER, July 26, 2017 (GLOBE NEWSWIRE) -- 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 National 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.”

About NEA
New Enterprise Associates, Inc. (NEA) is a global venture capital firm focused on helping entrepreneurs build transformational businesses across multiple stages, sectors and geographies. With nearly $17 billion in cumulative committed capital since inception NEA invests in technology and healthcare companies at all stages in a company’s lifecycle, from seed stage through IPO. The firm’s long track record of successful investing includes more than 200 portfolio company IPOs and more than 320 acquisitions. Visit www.nea.com.

About Boulder Ventures
Founded in 1995, Boulder Ventures invests in experienced entrepreneurs and their teams building technology and life science companies in Colorado and the Mid-Atlantic region. The firm’s portfolio companies in software, networking, data storage, drug discovery and tools, and technology enabled services, lead their markets through superior management, market vision, and differentiated products. Boulder Ventures has embraced this focused approach to successful venture capital investing for more than fifteen years, raising venture capital partnerships totaling $360 million in committed capital. Visit www.boulderventures.com.

About Grayhawk Capital
Grayhawk Capital is a venture capital firm that funds outstanding early and growth stage technology companies. The three partners of Grayhawk Capital have experience managing venture funds totaling more than $500 million, with a collective 70+ years of experience. Their investment philosophy targets companies with exceptional management teams, in rapidly growing markets, possessing innovative and disruptive product offerings. Visit www.grayhawkcapital.us.

About EPIC Ventures
For over 20 years, EPIC Ventures has partnered with entrepreneurs to build lasting, category-defining information technology businesses. The firm focuses on early-stage opportunities throughout the western states, and works actively alongside a broad network of advisors to help its portfolio companies succeed. Visit www.epicv.com.

About Acadia Woods
Acadia Woods Partners is a New York-based investment partnership that focuses primarily on early stage technology companies.

About Peninsula Ventures
Peninsula Ventures invests in early-stage technology companies.  For over 25 years, the partners have worked closely with entrepreneurs in building lasting institutions.  Peninsula Ventures believes in creativity, innovation, and the entrepreneurial spirit, and measures its success by the companies it helps build.

About SyncHR
SyncHR is the Human Capital Management (HCM) cloud-based technology leader streamlining core HR, benefits, payroll and reporting in a single, enterprise-class application for mid-sized companies. Founded in 2010, the SyncHR team of industry veterans and visionaries has developed patented technology that saves time, increases productivity, and delivers a superior economic value by simplifying the complexity of HCM through one robust application. The company’s dedicated services and customer care teams deliver industry-leading implementation times, and the intuitive interface creates an enhanced user experience for all employees and administrators. SyncHR has created a new reality in HCM by making centralized, interrelated data easy to access, correct, control, and analyze - anytime. www.syncHR.com

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