Resolve Makes Significant Growth Investment in CEIPAL

ROCHESTER, N.Y., April 23, 2019 /PRNewswire-PRWeb/ -- CEIPAL, a market-leading SaaS platform that automates both the front and back-office business operations of staffing companies, today announced it has raised a $7.5 million growth equity investment from Resolve Growth Partners, along with returning investor Mistral Venture Partners. This investment will support the scaling of the company's product development, sales and support teams.

CEIPAL was founded in 2015 with a mission to bring innovative, market-leading software to the staffing market priced at a fraction of the cost of the legacy incumbent offerings. Today, CEIPAL serves over 1,000 customers and 12,000 recruiters globally. The product suite offers a complete workforce management platform including a fully integrated applicant tracking system (ATS) and human resource information system (HRIS).

"In partnering with Resolve, I was looking for a growth equity partner who shared our vision and commitment to innovation," said CEIPAL founder and CEO Sameer Penakalapati. "Resolve brings deep software expertise and company-building best practices that CEIPAL needs to scale to the next phase of our journey," Penakalapati added.

"We are thrilled to welcome CEIPAL to the Resolve portfolio. We founded Resolve specifically to partner with domain-oriented founders who have lived the problem they seek to address," said Jit Sinha, Co-Founder and Managing Director of Resolve. "We share Sameer's relentless commitment to building the most innovative software platform in the staffing space," Sinha added.

"In speaking with numerous CEIPAL customers, we were excited to learn how much they love the combination of a modern, flexible user experience combined with exceptional customer service delivered 24/7," said Chris Rhodes, Co-Founder and Managing Director of Resolve. "Because the platform was designed from the ground up using modern technology, CEIPAL's products are sold at a fraction of the price of competitive offerings," Rhodes added.

"We are delighted to add Resolve to the investor syndicate. Their experience in this sector and exceptional track record of scaling software companies will be invaluable to the company in its mission to become the category leader in human capital management," said Code Cubitt, Managing Director of Mistral Venture Partners.

In connection with this investment, Jit Sinha and Chris Rhodes will join CEIPAL's board of directors.

About CEIPAL
CEIPAL provides a SaaS platform that automates both the front- and back-office business operations of staffing companies. CEIPAL offers a complete workforce management platform including a fully integrated applicant tracking system (ATS) and human resource information system (HRIS). Founded in 2015, CEIPAL now serves over 1,000 customers and 12,000 recruiters globally. For more information on CEIPAL, visit http://www.ceipal.com.

About Resolve Growth Partners
Resolve Growth Partners is a growth equity firm focused on investing in B2B software companies and enabling passionate, committed entrepreneurs to accelerate and realize their growth potential. Resolve provides expertise and repeatable best practices across human capital management, go-to-market and operations. For more information on Resolve, visit http://www.resolvegrowth.com.

About Mistral Ventures Partners
Mistral Venture Partners is a Canadian seed-stage venture capital firm focused on enterprise software and B2B SaaS. We work closely with our founders, helping them grow from early traction to predictable revenue so they are best positioned for the next stage of fundraising and scale. Mistral is based in Ottawa, Canada with additional offices in California. http://www.mistralvp.com.

SOURCE CEIPAL