Visier Secures $15 Million in Series B Funding to Fuel Accelerated Growth

VANCOUVER, British Columbia, May 30, 2013 /PRNewswire/ -- Visier, the innovation leader in workforce analytics and planning solutions, today announced that it has raised $15 million in Series B financing. The round was led by growth equity investor Summit Partners and included existing investor Foundation Capital. Visier will use the capital to fuel investments in innovation and fund strategic growth initiatives that support its aggressive, global go-to-market strategy.

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Since its founding in 2010, Visier has re-defined how enterprise organizations approach workforce analytics by delivering out-of-the-box HR analytics that combine the sophistication of predictive capabilities with the ease-of-use of consumer applications. Visier Workforce Analytics gives business leaders and HR professionals the insight they need to take action to reduce workforce costs, improve productivity, attract and retain top talent, and optimize their people strategy to meet their business strategy.

"Visier's first two years were spent creating a revolutionary way to approach analytics," said John Schwarz, Founder and CEO of Visier. "Since taking that solution to the market last year, customers have consistently told us they have never seen anything like Visier, and they are delighted with how Visier Workforce Analytics is helping to transform their businesses.  With this capital infusion from top-tier investors Summit Partners and Foundation Capital, Visier will accelerate the release of new product offerings, continue to drive innovation in analytics, and grow market share through international expansion."

Led by business intelligence visionaries including former Business Objects CEO John Schwarz, Visier's leadership team has a proven track record of successful technical, operational and strategic management with companies including Business Objects, Crystal Decisions, SAP, IBM and Symantec.

"Visier is a market leader in the workforce analytics software industry. The company has created an amazing experience for business users, and solved the challenge of delivering real business insight—not analytic infrastructure—through the cloud in a fraction of the time required to get traditional analytics solutions up and running," said Greg Goldfarb, a Managing Director with Summit Partners who is joining the Visier Board. "As a long-time investor in software companies, Summit Partners is pleased to support this extraordinary management team that has built a rapidly growing company that is so focused on delivering business value to its customers."

Visier is the choice of enterprise leaders that understand their greatest investment is their people. Representative customers include ConAgra Foods, CareFusion, Informatica, and Hyatt Hotels.

About Visier
Headquartered in Vancouver, B.C. and San Francisco, CA, Visier delivers workforce analytics through the cloud to empower HR professionals with the most critical insights for optimizing their people strategy to meet their business strategy. Visier's unique analytics combine the sophistication of predictive capabilities with the ease-of-use of consumer applications. Founded in 2010 by business intelligence experts–including former Business Objects CEO John Schwarz–the company's leadership team has a proven track record of technical, operational and strategic management success with companies such as IBM, SAP and Symantec. The company has received numerous industry awards for its innovative technology and products. For more information, please visit http://www.visier.com.

About Foundation Capital
At Foundation Capital, we're dedicated to the proposition that one entrepreneur's idea, with the right support, can become a business that changes the world. We helped Atheros create the mobile Internet, EnerNOC invent the energy demand response market, and Netflix revolutionize media distribution and consumption, among many others. We're currently invested in more than 80 high-growth ventures in the areas of consumer, information technology, software, semiconductors, and clean technology including BoardVantage, Chegg, Coverity, Lending Club, MobileIron, Simply Hired, Sunrun, TubeMogul and Venafi. Foundation Capital's eighteen initial public offerings include Envestnet, Financial Engines, Netflix, NetZero, Responsys and Silver Spring Networks. For more information, please visit http://www.foundationcapital.com.

About Summit Partners
Summit Partners (http://www.summitpartners.com) is a growth equity firm that invests in rapidly growing companies across North America, Europe and Asia. Founded in 1984, Summit has raised nearly $15 billion in capital and provides equity and credit for growth, recapitalizations, and management buyouts. Summit has invested in more than 365 companies globally in technology, healthcare and other growth industries. These companies have completed 130 public offerings, and more than 135 have been acquired through strategic mergers and sales. Notable investments in the software sector include: Clearwater Analytics, McAfee, RightNow Technologies, Hyperion Software, GoldenGate Software, Postini, ProClarity and Unica. Summit Partners has offices in Boston, Menlo Park, London and Mumbai.

In the United States of America, Summit Partners operates as an SEC-registered investment advisor. In the United Kingdom, this document is issued by Summit Partners Limited, a firm authorized and regulated by the Financial Conduct Authority. Summit Partners Limited is a limited company registered in England and Wales with company number 4141197, and its registered office is at 20–22 Bedford Row, London, WC1R 4JS, UK. This document is intended solely to provide information regarding Summit Partners' potential financing capabilities for prospective portfolio companies.

Media Contacts:
Kerry McClenahan
McClenahan Bruer 
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503.546.1002

Jessica Lange
McClenahan Bruer
[email protected]
503.546.1025

SOURCE Visier