NuView Systems Secures Venture Funding
Leading Provider of HRMS and Payroll software receives funding
after two straight years of record-breaking growth
Wilmington, MA – April 2, 2009 - NuView Systems Inc., a global provider of HR & Payroll software tools, announced today it has received venture funding from Petra Capital Partners for an undisclosed amount. NuView will allocate the funds to expand operations, hire additional staff and gear up for capturing a larger share of this growing industry, expected to hit $11 billion in 2009. Madison Park Group LLC served as the financial advisor to NuView on this transaction.
NuView is ideally positioned for growth with its fully integrated suite of HR and Payroll tools, which utilize and single database and platform, and can be deployed globally.
“We are thrilled to be partnering with Petra Capital Partners, a world class venture firm with a long, successful history. This is particularly important in that most venture funding has stopped in this economy, but our product suite and advanced Enterprise 2.0 technology platform is actually more in demand now,” said Shafiq Lokhandwala, CEO of NuView Systems. “Currently, there is a need for flexible human resources/payroll tools as companies look to re-build and reorganize staff and resources, redeploy existing talent to fill gaps created by reductions, automate processes and streamline operations, build a global team, push policies globally, retain key talent, and address a whole host of other staffing issues” Lokhandwala continued.
NuView recorded its second straight year of record-breaking growth in 2008, hiring 17 new employees to support its growing base of 300+ global clients, reflective of all vertical industries.
Leading clients that NuView added in 2008 included Wassermann Group, Jackson Healthcare, Diocese of Providence, HomeAway, Baker Hostetler, Booz & Co., Locke Supply, EMD Chemicals, Marine Credit Union, Transportation Research Center, Applied Research Associates, Venable LLP, Vision Solutions and many others.
About Petra Capital Partners
Petra Capital Partners is a Nashville, TN based private equity firm founded in 1996 and engaged in providing growth capital for companies located throughout the United States. The partners of Petra have invested more than $337 million in 76 high growth private companies over the past 20 years.
About NuView
NuView Systems is a global provider of HR & Payroll software tools that leverage technology to enable business strategy through its advanced HR technology, helping organizations manage people, process & strategy across the enterprise, on a global basis. NuView’s clients are leading organizations that have improved organizational effectiveness and earned global recognition for the superior delivery of HR and payroll services to their entire organizations.
The NuViewHR® product suite offers integrated tools for every critical HR function, effectively managing HR & Benefits, Compensation, Recruiting Management, Employee, Manager & Candidate Self-Service, Training Administration, Performance Management, Succession Management, Metrics, Reporting, Time Entry and the Payroll function, on a global scale.
Clients have access to services like the automatic availability of a service called Legal Line which allows clients to ask an unlimited number of HR and Payroll related questions, via phone or embedded portal, to legal attorneys on subjects such as policies & procedures, hiring, compliance, compensation, immigration, terminations, contracts/agreements, state wage and hour and other issues to help their organizations reduce risk and exposure to potential lawsuits.
NuView’s web native product suite has won numerous awards, including “Top Ten HR Product of the Year” by Human Resource Executive magazine, and a Human Resource Technology Excellence Award for Innovative & Creative Development of HR Technology Solutions – HRMS.
NuView was recently named to the prestigious Global Software 500 in 2008, the Hot HRMS List published by Workforce Magazine and a finalist in the 2009 CODiE Awards for Best Human Resources Solution by the Software & Information Industry Association (SIIA).
For more information, visit: www.nuviewHR.com
Press Contact:
Ronnie Welch or Kelly Cinelli
CWR & Partners, LLP
508-222-4802
Ronnie@cwrpartners.com or kelly@cwrpartners.com
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