Newtown, Pa.-based enterprise software maker gr8 People announced on Tuesday it closed an $8 million Series B, led by Boston-based Ascent Venture Partners.
The company, currently at 50 employees out of its Bucks County headquarters, said the he new capital will go toward scaling the business to “meet the increasing demand for the gr8 People platform in existing and new markets.”
In 2017, the company reports adding 70 new CRM and Recruitment Marketing customers to its new One-Experience Talent Platform.
“This enormous growth provides a real breakthrough in value for our enterprise-customers connecting entire talent ecosystems into an innovative one-experience of performance, agility and intelligence,” said CEO Diane Smith, an enterprise software veteran who cofounded gr8 People in 2010 alongside Jayne Kettles.
What's the most exciting headline today in #HRTech? $8M in Series B funding was just announced for gr8 People. This will expand innovation and continue fueling our tremendous growth in existing and new markets. Get the full story here: https://t.co/x0XUXBQbAZ pic.twitter.com/iVidALPKp9
— GR8 People (@GR8People) February 13, 2018
Previous investors Delancey Street Partners and Randstad Innovation Fund also joined in on the Series B which, per the company, follows a period of “sustained and rapid growth.” The company reports closing 2017 with a revenue uptick of around 500 percent.
It’s not Ascent’s first investment in the Philly area. In March of last year the firm doubled down on its bet on ecommerce marketing startup Sidecar. The firm then joined Sidecar’s $11 million Series C led by Harbert Growth Partners. The recent funding brings gr8 People’s total funding to date to $14 million.
“We are confident that gr8 People will keep building on its established leadership position and fuel the market with best-in-class technology solutions,” said Ascent Venture Partners General Partner Luke Burns.
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