FLORHAM PARK, N.J., Dec. 12, 2019 /PRNewswire/ -- Growth Street Partners today announced a minority growth equity investment in HR Acuity, the leading provider of software to manage, track, and investigate employee issues. Hundreds of the country's leading and most forward-thinking companies, including ADP, LinkedIn, Lyft, and Save the Children, use HR Acuity to reduce risk proactively and handle workplace issues consistently and fairly while improving the employee experience. HR Acuity will use the investment to expand its leadership position in a rapidly adopting market.
HR Acuity's SaaS solution mitigates employee-related risk through its workflow automation, investigation and case management, benchmarking, and business intelligence platform. In a recently commissioned Total Economic Impact™ Study, Forrester Consulting, part of an independent research firm, determined customers can generate over a 5x return on their investment in HR Acuity's software in just three years based on (1) avoided/mitigated legal costs, (2) reduced employee turnover, and (3) improved team efficacy through streamlined processes.1 Since #MeToo emerged in 2017, state legislators have introduced over 200 legislative bills and 15 states have passed new legislation to strengthen employee protections from workplace harassment. The company's solution is very effective at managing and mitigating employee relations-related risks. Through HR Acuity's insurance carrier partnership program, customers can potentially receive a meaningful reimbursement on their employment practices liability insurance policies.
"Combining HR Acuity's industry-leading software platform, blue-chip customer base, and thought-leadership position with Growth Street's extensive experience scaling B2B SaaS businesses will quickly multiply the company's impact," said Deborah Muller, CEO and founder of HR Acuity. "Together, we will work with our clients to help them transform employee relations. General counsels and compliance officers can anticipate employee risk, HR and employee relations leaders can manage employee-related issues fairly and consistently, and employees can benefit from a trusted experience."
Founded in 2009 by Deborah Muller, the company's SaaS solution is already used by over 150 of the world's best-known companies, representing over 1 million employees globally. Leveraging its annual benchmark study and employee survey data, the company's platform provides best practices to its customers on how to navigate complex and risky employee-related matters in accordance with HR, legal, and compliance best practices.
"Growth Street is thrilled to partner with Deb and the growing HR Acuity team," said Steve Wolfe, Co-Founder of Growth Street Partners. "HR Acuity offers a compelling risk management solution for employee relations and compliance professionals - frankly, a solution every employee should demand his or her employer adopt and every insurance company should require its clients use."
"Employee relations has always been Deb's passion. Her passion is evident in every aspect of the product and every member of the team. It is no coincidence that the world's leading companies are adopting HR Acuity and pushing the company to even greater heights. We feel fortunate to partner with Deb and her team to help her grow HR Acuity's impact," added Nate Grossman, Co-Founder of Growth Street Partners.
HR Acuity is certified as a Women's Business Enterprise (WBE) through the Women's Business Enterprise National Council (WBENC). In conjunction with the investment, Growth Street Partners will join the Board of Directors, which will also include Deborah Muller, CEO and founder, and Nancy Altobello, the former Global Vice Chair of Talent at EY and a current Board member of MarketAxess and MTS Systems.
While you can't prevent every employee relations issue, you can change how you respond. HR Acuity is the only technology platform specifically built for employee relations management and investigations. HR Acuity's SaaS technology empowers you with built-in intelligence, templates, and reporting so you can conduct best practice, fair investigations, uncover trends and patterns through forward-looking data and analytics, and provide trusted, consistent experiences for your people. For more information, please visit www.hracuity.com and follow @hracuity on Twitter and LinkedIn.
Growth Street Partners
Growth Street Partners provides early growth capital to rapidly growing SaaS and technology-enabled services companies located in underserved U.S. markets. The firm partners with founders who have personally lived through the problems their businesses solve. Existing investments include Pear Deck, ChildCareCRM, Visual Lease, Hotel Effectiveness, Suralink, and HR Acuity. The firm also played a significant role in ChildCareCRM and Hotel Effectiveness completing add-on acquisitions of Just Fill Out and LobbyLights, respectively. If you are a founder from industry looking to scale without losing control or are simply interested in more information, please visit www.growthstreetpartners.com.
1 The Total Economic Impact™ Of HR Acuity Employee Relations Case Management, a commissioned study conducted by Forrester Consulting, August 2019
SOURCE Growth Street Partners