HR Path receives €225 million in Financing

HR Path today announced a new record round of financing.  With this new operation, HR Path intends to continue its international expansion and strengthen its status as a global leader in the HR industry.

ATLANTA, Ga, May 11, 2022 /PRNewswire/ -- This round combines the raising of external growth-oriented bank financing and a reorganization of equity around Andera Partners, a partner of the group since 2019, which is structuring a dedicated co-investment fund for the occasion. The creation of such a fund for a company the size of HR Path is unprecedented on the market. This new financing method not only offers liquidity to investors and shareholders but also allows the international group to benefit from additional financial resources to continue its growth.

The €225 million funding round was led by Andera Partners and a dozen of its subscribers, including Societe Generale Capital Partenaires (SGCP).  Six French banks (Société Générale, BNP Paribas, Crédit Agricole Ile de France, Banque Palatine, LCL and Caisse d'Épargne Ile de France) have also subscribed to this operation. The assistance of Volt Associés, and this co-investment fund made this fundraising.  Andera Partners, the co-investment fund and SGCP remain minority shareholders of the group.

HR Path's services range from HR strategy consulting (Advise) through the implementation of software solutions (Implement) to payroll outsourcing (Run). The international Group aims to continue its expansion and expand its value proposition in all countries of the world, especially in the 19 countries where the group is already present.

With a double growth, both organic and external HR Path aims to:

-  Double its turnover within 5 years

-  Receive 400 people a year in the coming years 

-  Become the  world  leader in the digital transformation of the  HR function.

"This new round will allow us to give ourselves the means to achieve our ambitions. We want to contribute to the improvement of HR performance, including through the acquisition of new companies.  We want to share our HR expertise with large international groups and create HR innovation with them," says François Boulet, co-president of HR Path.

Cyril Courtin, co-president of HR Path, adds: "The topics around human capital are more than ever a priority: adapting to change, data security, employee attraction  and employee engagement. Thanks to our own talents, their expertise and their involvement alongside our customers, HR Path is able to meet all these challenges that allow companies to improve  HR experience. That is why we strongly believe in our potential and we welcome the confidence, renewed for some, of our financial partners." 

François-Xavier Mauron and Antoine Le Bourgeois, partners of Andera Partners, declare: "For the past 3 years, we have financed and supported the change of scale of this champion wishing to become a leading global player in its market. It is with pleasure that we will continue to support HR Path in its projects. This new method of managing shareholdings allows us to continue to create value on a performing asset for which we have a strong conviction. " 

Marc Jacquin, Director of Participations at SGCP explains: "After having accompanied the group on the occasion of its first operation in 2015 and again in 2017, SGCP is pleased to participate in this new stage of the HR Path group and to support the management in its ambition to build a global player in a dynamic and strategic market of the HR function for companies."

About HR Path

HR Path, global leader in Human Resources, supports companies for which the human experience is essential to their digital transformation. Our 3 business lines, Advise, Implement & Run, contribute to the HR performance of its customers.

Created in 2001 in Paris and with its 1,300 talents, HR Path advises, integrates, and operates in 19 countries for more than 1,500 clients. Its turnover to date amounts to 140 million euros.

More information: www.hr-path.com

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Marie-Charlotte POTET                                                                                         Clément BENETREAU
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