Safeguard Global Secures Significant Growth Equity Investment from Accel-KKR
AUSTIN, Texas--(BUSINESS WIRE)--May 8, 2019--Safeguard Global, a world leader in driving long-term growth through constant innovation of global workforce deployment for businesses, today announced it has secured a significant growth equity investment from Accel-KKR, a leading Silicon Valley-based investment firm. Safeguard Global will use the capital to further its innovation and leadership in deploying workforce solutions, including payroll and employment services, as well as to expand its global footprint to better serve its growing international customer base.
“Multinational companies are desperately seeking partners that are innovating to solve incredibly complex business challenges, and they are moving away from the industry behemoths that are mostly just focused on driving next-quarter sales,” said Bjorn Reynolds, Founder and CEO, Safeguard Global. “Safeguard Global has a platform-centric vision that enables multinational employers to make decisions at the intersection of their employees and business. We couldn’t be more excited to partner with Accel-KKR and leverage their experience and resources to help Safeguard Global reach new heights.”
Safeguard Global offers industry-leading products and technologies that empower businesses to grow, scale and pay employees in new geographies, while adhering to country-specific rules, laws and regulations. For more than 10 years, its comprehensive platform has removed the guesswork from global expansion and payroll for some of the world’s leading brands. In that time, Safeguard Global has grown from its initial offering of international payroll solutions to a global expansion catalyst service with employment outsourcing and more, helping more than 300 clients scale and expand across 179 countries.
“We believe Safeguard Global is extremely well-positioned for long-term growth and we are thrilled to partner with management to capitalize on the opportunity ahead,” said Greg Williams, Managing Director at Accel-KKR.
“As globalization continues to drive enterprise cross-border expansion, comprehensive HR solutions for international personnel have become a critical need for business managers. With its unique capabilities for both deploying and paying international employees, Safeguard Global is uniquely positioned for this growing global opportunity. We are excited to help Safeguard Global further extend its differentiation,” Williams added.
In addition to the funding, Accel-KKR will serve in an advisory capacity in several areas of the Safeguard Global business. David Cusimano, Principal at Accel-KKR, and Todd La Fever, President and Chief Operating Officer at iSolved HCM, will join the Safeguard Global board of directors.
Needham & Company acted as exclusive financial advisor to Safeguard Global for this transaction.
For more information on Safeguard Global, please visit www.safeguardglobal.com.
About Safeguard Global
Safeguard Global is the world leader in driving long-term growth through constant innovation of global workforce deployment for businesses. Leveraging more than 10 years of global outsourcing expertise and technology development, Safeguard Global offers industry-leading products and technologies, including Global Employment Outsourcing (GEO) and Global Managed Payroll (GMP), that empower businesses to grow and scale quickly and efficiently, while ensuring compliance in 179 countries. Safeguard Global is headquartered in Austin, Texas, with regional service centers in the UK, India, Hungary and Mexico, employing more than 500 people worldwide. For more information please visit www.safeguardglobal.com.
Accel-KKR is a technology-focused investment firm with over $5 billion in capital commitments. The firm focuses on software and IT-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value through significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across a wide range of transaction types including private company recapitalizations, divisional carve-outs and going-private transactions. Accel-KKR is headquartered in Menlo Park, California, with additional offices in Atlanta and London.
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SOURCE: Safeguard Global
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PUB: 05/08/2019 09:30 AM/DISC: 05/08/2019 09:30 AM