AbsenceSoft, a Palo Alto, Calif.-based SaaS total absence and leave management platform provider, received an investment from Norwest Venture Partners.
The amount of the deal was not disclosed. As part of the investment, Rob Arditi and Ran Ding of Norwest will join AbsenceSoft’s board of directors. Bow River Capital’s Software Growth Equity Fund will maintain a significant equity stake and board seat to help drive continued growth.
The company intends to use the capital to expand operations and its portfolio of solutions.
Led by John Huettel, President and CEO, AbsenceSoft provides companies of all sizes and in every industry with a cloud-based Total Absence Management platform to manage FMLA, ADA, Disability, and other forms of leave to save time, reduce risk, improve employee experience and stay compliant.
Founded in 2013, the company is today recognized as a leader in SaaS solutions for the absence/leave management industry.
FinSMEs
08/07/2021