Top Echelon Network Announces Acquisition by SageLink Capital for Next Phase of Growth
CANTON, Ohio (PRWEB) July 24, 2019 -- Top Echelon Network, LLC, a leading provider of applicant tracking system (ATS) and split-placement network software, today announced that it has been acquired by SageLink Capital, a leading investment firm focused on enterprise software and technology-enabled businesses. Following the acquisition, the Company has been rebranded “Top Echelon Software, LLC.”
This transformational partnership combines Top Echelon’s storied 30+ years of deep industry focus and award-winning technology platform with the team at SageLink’s successful track record helping software companies grow. SageLink’s investment will provide resources to invest in growth, add-on acquisitions, and strengthen its technology offerings to position the company for market expansion and consolidation.
“We’re thrilled to partner with SageLink Capital and look forward to the number of ways that they will help us better serve the needs of our customers, grow our company, and expand our team,” said Top Echelon CEO, Mark Demaree. “This signifies the next chapter in Top Echelon’s mission to become the leading mid-market ATS provider.”
Top Echelon’s flagship ATS product, Big Biller, provides recruiters a software-as-a-service (SaaS) workflow management system for the talent acquisition process, including tools for resume import and parse, job application collection, resume search, comprehensive reports, job board publication, job websites, analytics, and workflow customization. The Company’s split-placement offering is a network platform where recruiters share candidate and job order information online where one recruiter provides the candidate for another recruiter’s job order. Top Echelon serves more than 1,700 customers across North America.
“What sets Top Echelon apart is its world-class ATS built for the power user, yet intuitive enough for the smallest business, combined with the Company’s success in helping recruiters reach more hire-ready, recruited candidates and transaction-ready, contracted jobs, through its split-placement network,” said Mike Robertson, Managing Partner at SageLink Capital. “We see tremendous opportunity to leverage the Company’s powerful network effects and its “MEGA” database of 4 million candidates, to build the ATS leader for the middle-market.”
Led by Mark Demaree, CEO, and Erick Nave, CTO, Top Echelon’s broader, existing leadership team will remain in place to best deliver business continuity, strategic objectives, and support for its customer base.
“This partnership is a significant milestone for our company, our employees, and our customers,” said Top Echelon CTO Erick Nave. “We’ve already established ourselves as a market leader to middle-market growth recruiters, in ATS workflow, user experience, and split-placement network results, and now we have a partner in SageLink who will help us leverage and build upon that leadership position in our next phase of growth.”
Top Echelon has expanded significantly its investment in product development over the past 36 months to drive accelerating value and recruiting results to its customers. Top Echelon launched major enhancements to Big Biller in 2018 to support advanced workflow management for talent acquisition.
Top Echelon was acquired from its parent, Patriot Software Company (Patriot). This strategic divestiture positions Patriot’s highly scalable Accounting, Payroll, and Time & Attendance SaaS offerings to continue rapid customer acquisition in US Small Business sector. Patriot’s fully cloud-based solution is a cohesive Accounting and Payroll SaaS technology platform that addresses pain points every American small business and their advisors experience.
In conjunction with the transaction, Mike Robertson from SageLink Capital, Bo Ramsey from Pendyne Capital, and Mike Kappel from Patriot Software will join the Board of Directors.
“This partnership is the exciting next chapter of Top Echelon’s story,” said, Mike Kappel, Top Echelon’s Founder and current CEO of Patriot Software. “This acquisition is a testament to the quality of Top Echelon’s software, systems, and staff. Sagelink brings an extra layer of technical depth and financial strength to the table that insures that Top Echelon will be able to help recruiters for a long, long time to come.”
ABOUT TOP ECHELON NETWORK
Top Echelon Network is a privately held, provider of applicant tracking system (ATS), recruiting, and split placement network software. The Company’s products include automation and workflow management of the talent acquisition process (Big Biller) and Top Echelon Network, a SaaS offering that provides recruiters a network platform where they share candidate and job order information online to allowing one recruiter to provide the candidate for another recruiter’s job order. Top Echelon Network’s software helps its customers attract and retain talent, match workers’ skills to business needs and staffing clients’ objectives, and reduce the time and costs associated with processes. Founded in 1988, Top Echelon has grown to serve more than 1,700 customers. The Company is headquartered in Canton, Ohio. For more information, visit http://www.topechelon.com.
ABOUT SAGELINK CAPITAL
SageLink Capital is a leading independent sponsor focused on investing in medium-sized, growing businesses. SageLink has a keen interest in software, technology-enabled service, and business service companies in the U.S. and Canada. The firm focuses on middle-market companies and provides a range of capital solutions including capital for buyouts, growth initiatives, and add-on acquisitions. SageLink’s investments are for the long-term and are focused on growth. The firm is headquartered in Denver, Colorado. For more information, visit http://www.sagelinkcapital.com.
Mark Demaree, Top Echelon Software, LLC, http://www.topechelon.com, 888.627.3678, [email protected]
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