A Menlo Park, California, company, HighBar Partners, recently acquired SilkRoad Technology, a global software and cloud-based platform designed to increase employee productivity and satisfaction.
The new partnership will allow HighBar Partners, a private equity investor, to provide growth equity to help further SilkRoad's SaaS capabilities, deliver new global business solutions supporting digital and workforce transformation in expanding markets, according to a press release.
"HighBar is thrilled to partner with SilkRoad Technology as we recognize the criticality of the employee experience and the need for digital solutions to drive mobility, productivity and revenue performance," Jayson Yuan, a partner for HighBar Partners, said in the press release. "SilkRoad's existing capabilities in and vision for the talent management space put the company in a strategic position to drive significant change for enterprise organizations, to assist in the deployment of talent where the organization needs it most, and to accelerate employee contributions delivering impactful outcomes for its customers. Finally, we welcome the continued participation and partnership of Foundation Capital and Two Sigma as a recognition of SilkRoad's vision and capability to excel in the coming years."
Headquartered in Chicago, SilkRoad Technology is known for its software and service platforms that help clients attain, keep and align people to the client's business. Founded in 2003, the company offers Global Client Services to strategic HR and business expertise.
HighBar Partners, while being a private investment firm, structures its investments to align with stakeholders while still working with management teams to develop long-tern strategies and solutions, the release said.
The new investment into SilkRoad Technology will allow a once-in-a-lifetime opportunity to HighBar Partners to make an impact as existing investors including the Capital and Two Sigma Ventures are also participating in the financing of SilkRoad, according to the release.