CINCINNATI and NEW YORK, Jan. 04, 2021 — Paycor, a leading provider of SaaS Payroll and Human Capital Management (HCM) software, today announced that it has received commitments for $270 million in new investment co-led by Neuberger Berman, on behalf of certain funds for which it serves as investment adviser, and Qatar Investment Authority (QIA) and accompanied by other new investors including ClearBridge Investments, Franklin Templeton, Leumi Partners, and Teca Partners.
Paycor is a trusted partner to more than 40,000 medium and small-sized businesses. Known for delivering modern, intuitive recruiting, HR and payroll solutions, Paycor partners with businesses to optimize the management of their most valuable asset — their people.
“The partnership of these new investors with Paycor speaks to the momentum we have achieved as a leader in HCM and the opportunities we see ahead,” said Raul Villar, Jr., Paycor’s Chief Executive Officer. “This allows Paycor to accelerate our strategy of serving our customers with industry-leading technology and expertise.”
Jason Wright, Partner at Apax Partners, said, “Cloud HCM / Payroll is a large, growing market with evolving customer needs. Paycor’s next-generation, integrated suite of solutions is at the forefront of this evolution. In the last three years, Paycor has undergone a substantial transformation, investing in its product, go-to-market strategy, and management team, while continuing to scale the business. We welcome Neuberger Berman, QIA, ClearBridge Investments, Franklin Templeton, Leumi Partners and Teca Partners as additional investors to support the company’s growth strategy.”
J.P. Morgan Securities LLC acted as Sole Placement Agent on the financing. Kirkland & Ellis LLP acted as legal advisor to Paycor.
This press release is for informational purposes only and shall not constitute, or form a part of, an offer to sell or the solicitation of an offer to sell or the solicitation of an offer to buy any securities.