By Ashley Fletcher Frampton
Published May 4, 2011
PeopleMatter, a growing software firm based in North Charleston, announced Tuesday that it has secured $7.2 million in a second round of venture capital funding.
The company previously raised $7 million in 2009, the year it was founded. The Series B funding was led by Noro-Moseley Partners, with participation from previous
investors C&B Capital, Intersouth Partners and Harbert Ventures.
PeopleMatter provides software that helps service-industry businesses manage and integrate their hiring, training, scheduling and other management needs. Target industries are convenience stores, hospitality, retail and food service.
The company launched the first portion of its product in fall 2010.
CEO Nate DaPore said the additional funding allows PeopleMatter to accelerate its sales and marketing and to continue work on new products in the development pipeline.
In addition, DaPore said, “This will allow us to create a lot more jobs in the area.”
Now with 45 employees, PeopleMatter plans to grow to 100 by the end of the year and double its staff again in 2012.
The company is opening an office in San Francisco this summer, DaPore said, though he plans to keep about 80% of the workforce based in North Charleston.
“We’ve done extensive market research on the talent management industry,” said Mike Elliott, Noro-Moseley Partners’ managing partner, who will join the PeopleMatter board of directors. “PeopleMatter’s unconventional platform, integrating the consumer, employee and employer in targeted service-based verticals is poised for substantial growth.”
Read more about PeopleMatter and other growing Charleston-area technology companies in the May 9 print edition of the Charleston Regional Business Journal.
Reach Ashley Fletcher Frampton at 843-849-3129.