PageUp Acquired by EQT Group from Battery Ventures
Deal News | Oct 31, 2024 | Battery Ventures
PageUp Group, an HR and talent management software company, has been acquired by EQT Group from Battery Ventures. Battery Ventures initially invested in PageUp in 2018, facilitating its growth into a globally recognized company in the HR sector. Under Battery's ownership, PageUp more than tripled its annual recurring revenue and expanded its international presence with customers predominantly in the US and UK. Battery Ventures played a crucial role by leading the company through strategic acquisitions and leadership transitions, appointing Mark Rice as CEO to drive growth. PageUp's robust position in the market is backed by its specialized solutions tailored for sectors like higher education, government, and healthcare, which require specific regulatory compliance. The acquisition by EQT Partners marks a new chapter for PageUp, aiming to capitalize further on its growth trajectory. Battery Ventures underscores the collaboration with company founders in achieving substantial growth and positioning the company for future expansion under new stewardship.
Sectors
- Human Resources Technology
- Private Equity and Venture Capital
Geography
- United States – A significant portion of PageUp's customer base is in the United States, particularly in the higher education sector.
- United Kingdom – PageUp has significant operations and customer engagement in the UK.
- Australia – PageUp is originally based in Australia and was first majorly invested in by Battery Ventures here.
Industry
- Human Resources Technology – PageUp operates within the Human Resources Technology sector, offering software solutions for talent acquisition, recruitment marketing, and management.
- Private Equity and Venture Capital – This article involves Battery Ventures and EQT Partners, both significant players in the private equity industry, focusing on strategic investments in technology-driven companies.
Financials
- More than tripled – The annual recurring revenue of PageUp under Battery Ventures' ownership.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| PageUp Group | Target Company | Company | A global HR and talent management software provider. |
| Battery Ventures | Selling Company | Company | A global, technology-focused investment firm that was the majority owner of PageUp before the acquisition. |
| EQT Group | Bidding Company | Company | A global investment firm that acquired PageUp Group. |
| Karen Cariss | Co-Founder | Person | Co-founded PageUp and worked with Battery Ventures for scaling the company. |
| Mark Rice | CEO | Person | Current CEO of PageUp, instrumental in the company's growth. |
| Gokhan Turgut | CFO | Person | CFO of PageUp, played a key role in the company's expansion. |
| Chelsea Stoner | General Partner | Person | Battery Ventures General Partner, who served on PageUp's board. |
| Dillon Joyce | Principal | Person | Battery Ventures Principal, who served on PageUp's board. |