Avionté Staffing Software in Eagan announced on Thursday an investment by San Francisco-based Serent Capital, a growth equity firm.
Avionté describes itself as a company that "provides an innovative suite of front- and back-office software product to the human resources industry."
The year 2013 marked the third year in a row that the company reported over 35 percent revenue growth. For the second year,
Inc. Magazine included Avionté on its 5,000 fastest growing companies list and the company has received recognition with
cultural workplace awards.
“We didn’t need to raise money, but I was looking for an investment partner who could help me grow the business while enhancing our commitment to serving our customers," said Avionté CEO John Long in a news release from the company. "We felt that Serent was the perfect partner to help us expand our business and improve our customer service."
Long will maintain his equity ownership in the company, according to Avionté's statement.
“The company has an incredibly loyal customer base, and we are excited to help Avionté deepen and expand its customer relationships," Kevin Frick, co-founder and general partner of Serent Capital, is quoted in the release.
Serent Capital invests only in growing, profitable business with the aim of helping growing businesses "continue to thrive."
UPDATED: Booming Eagan Companies Ranked on Inc.'s National Growth List