Human resources technology company CareerArc has raised $30 million in a financing round led by an East Coast private equity firm.
The Burbank company founded in 2009 provides software for hiring new talent at a company as well as transitioning employees out. Its client list includes Cheesecake Factory, Cedars-Sinai Medical Center, American Airlines Inc. and Thermo Fisher Scientific.
Robin Richards, chief executive and co-founder, said the funding led by PeakEquity Partners, in Radnor, Pa. and including Kinderhook Industries LLC, in New York, will be used to accelerate growth, expand product offerings and strengthen CareerArc’s market position
“PeakEquity has a broad set of strategic and operational experience that will be valuable as we continue to execute on our vision and take CareerArc to the next level,” Richards said in a statement.
Ric Andersen, a partner of PeakEquity, said the transaction will enable CareerArc to build on its long history of providing innovative human resources technology and leverage its strong software-as-a-service platform.