Pleasanton, Calif: ThinkHR, the provider of HR knowledge solutions to insurance agencies, HR platform providers, and businesses of all sizes, today announced a growth equity investment of $67.5 million from Guidepost Growth Equity. The investment will accelerate innovation, adoption, and expansion of the company’s unique software-and-service platform.
Founded in 2005 by insurance, HR and technology veterans, ThinkHR enables hundreds of partner organizations – including insurance brokerages, payroll providers, human capital management (HCM) software providers and professional employer organizations (PEOs) – to acquire and retain customers and bring steadily increasing value to their constituencies. ThinkHR’s platform features hundreds of thousands of answers to HR compliance issues, plus in-depth training course materials, newsletter content, HR tools and an employee handbook builder – all of which are supported by expert advisors who help HR and business leaders manage complex workforce issues.
“ThinkHR boasts an impressive leadership team, a compelling vision for the market, an innovative product set and roadmap, and exceptional customer retention rates,” said Roshen Menon, managing partner at Guidepost Growth Equity. “We are excited about their strategy to accelerate growth in existing and new markets, and we are thrilled to help them fully realize the opportunity.”
As part of the investment, Menon and Guidepost colleague Chris Cavanagh will join the ThinkHR board of directors. Guidepost has more than a decade of experience partnering with growth-stage technology companies, including OutSystems, WP Engine, Dyn (Oracle), Jive Communications (LogMeIn) and ProtoLabs (IPO). Also joining the ThinkHR board will be two HR industry veterans – Larry Dunivan, former chief revenue officer of Ceridian, a global HCM leader, and Mike Gaburo, CEO of Brightwell, provider of innovative vertical SaaS payments solutions to global businesses.
“ThinkHR has invented a new model for delivering trusted HR knowledge,” said Pete Yozzo, founder, and CEO of ThinkHR. “By combining expert human support with innovative cloud-based tools, we’re creating a new category that fills an important gap for employers, brokers and HCM partners. We are thrilled to partner with Guidepost, who sees the same disruptive potential we see in this massive opportunity.”
ThinkHR’s services bring a human interface to a suite of SaaS-based HR solutions that help HR and business leaders address HR challenges – from the simple to the complex and costly – while ensuring compliance with evolving state and national regulations. For example, employee handbooks and a variety of compliance documents can be easily created by HR professionals using ThinkHR’s tools as well as available white-gloved consulting services. Employers also benefit from critical risk and compliance essentials including hundreds of training courses, comprehensive resources covering safety and OSHA regulations, risk assessment audits, employee classification and salary benchmarking tools.