PageUp Group, a human resources and talent software company that was majority-owned by global, technology-focused investment firm Battery Ventures, has been acquired by EQT Group.
PageUp optimizes each talent management lifecycle step so everyone can reach their full potential. PageUp Talent Management software enhances HR processes with technology that HR professionals, people leaders and employees love to use. From recruitment and onboarding, through learning, into performance, and right up to best-practice succession planning, all backed up by platform-wide analytics. Customers love PageUp for its extensive functionality and ability to be custom-designed for various workflows and industries, all accompanied by exceptional customer care. The platform, used in over 190 countries, is truly global in scope, with offices in Melbourne, Sydney, New York, London, and Paris.
Speaking on the deal, Battery’s General Partner Chelsea Stoner said:
We could not be more excited to see PageUp reach this milestone and start a new growth chapter with EQT. The company’s story is a great example of how bootstrapped software businesses can tap an outside investment partner to scale—and how the founders and executives of those businesses, after years of hard work, can benefit when other investors see value in those businesses.
In addition to higher education, PageUp sells its talent acquisition, recruitment marketing, and talent management products to other industry sectors with heightened regulatory and audit requirements, including government and healthcare.
Battery first invested in Australia-based PageUp, co-founded by entrepreneur Karen Cariss, in 2018. It helped scale the company into a global player in the HR sector organically and through three key add-on acquisitions, pursuing a disciplined growth strategy focused on profitability. Under Battery’s ownership, the SaaS company’s annual recurring revenue more than tripled. Battery General Partner Chelsea Stoner and Principal Dillon Joyce served on the company’s board.
Dillon Joyce stated:
PageUp’s intense focus on customers and industry specialization were key factors fueling the company’s success. Karen, Mark and the whole team helped build PageUp into a robust global enterprise, and we look forward to seeing how the company grows from here.
Battery also worked with Cariss to facilitate the transition to a new global CEO, Mark Rice, and new CFO, Gokhan Turgut, who were instrumental in driving the company’s growth and expansion.
