DENVER, January 23, 2013 – JobApp, the leading software-as-a-service (SaaS) provider for recruiting and talent management systems specializing in hourly and decentralized workers, today announced it has received a substantial investment from Frontier Capital and executive management. The transaction validates JobApp’s leadership position in this hyper-growth industry.
“Frontier Capital invests in and partners with established, growth-stage companies with strong management teams, defensible business strategies and technology platforms to scale and grow market share,” said Michael Ramich, Partner, Frontier Capital. “We have deep experience helping SaaS companies at JobApp’s stage scale rapidly, and are excited to back John, Dave, and the JobApp team to capitalize on the many opportunities we see for the company.”
Known for its innovative and purpose-built software platform, a culture of client alignment and success, and delivering rapid business results, JobApp is recognized to have the industry’s largest installed base for hourly workers. Its rapidly growing base of clients span multiple industry segments that include retail, quick-serve restaurants and franchisees, convenience stores and travel centers, hotel and hospitality, grocery, health care, and manufacturing and distribution companies. Industry research provider IDC projects that the human capital management applications market will grow to $11 billion in 2016 from $7.5 billion in 2011, an 8% compound annual growth rate.
“We are excited to partner with Frontier Capital to build another world-class human capital management company. Frontier’s track record of helping accelerate the growth of SaaS-based software companies while helping them expand into new markets aligns perfectly with our vision and track record,” said John Raeder, CEO of JobApp.
Frontier’s investment closed in the fourth quarter of 2012. Montgomery and Co. acted as financial advisor to JobApp. Womble Carlyle Sandridge & Rice, LLP provided legal counsel to Frontier Capital.
About Frontier Capital
Frontier Capital is a Charlotte-based growth equity firm focused exclusively on technology enabled business services. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. We make minority and majority equity investments in high growth companies and have built an excellent track record of delivering returns to both our investors and management partners. For more information, please visit www.frontiercapital.com.
JobApp is the leading provider of recruiting and talent management systems specializing in hourly and decentralized workers. JobApp’s robust platform improves candidate sourcing, accelerates time-to-fill metrics, reduces turnover by 25-100%, delivers training and continuing education to employees and improves overall service quality. Many leading brands including Burger King, Taco Bell, Applebee’s, Denny’s, Carl’s Jr., Hardee’s, Checkers & Rally’s, Travel Centers of America, Quick Chek and Churchill Downs Racetrack and Casino trust JobApp to find, hire and manage their growing human capital supply chain. For more information, visit www.JobAppPlus.com.