PeopleMatter is an entity formed to purchase the assets of Acadia Human Capital Solutions, Inc. (“Acadia”), an eight-year-old provider of human capital management (“HCM”) software solutions. The Company’s clients include Ruby Tuesday, Applebee’s, noodles, and Mad Greens. The Company’s fully-integrated technology platform assists employers with workforce management tools, including hiring, learning, scheduling, and performance management.
In February 2009, Nate DaPore, the CEO of PeopleMatter, engaged Croft & Bender to raise equity capital to acquire the assets of Acadia and to provide sufficient working capital to rapidly grow the Company. PeopleMatter intended to acquire Acadia’s customer relationships and technology platform and use that as a base to develop additional products to focus on small and medium-sized businesses.
Croft & Bender successfully raised capital for the Company, with Intersouth Partners as the lead investor. C&B Capital also participated in the transaction.