News
LDC announces exit of CIPHR
18 Jan 2021
LDC has exited its investment in CIPHR, a leading UK provider of HCM software solutions, following a successful four-year partnership.
LDC backed the management buyout of CIPHR, led by CEO Chris Berry in May 2016, to further develop its software as a service (SaaS) offering and expand its product range.
During the partnership, CIPHR invested in product development and completed four strategic acquisitions, expanding CIPHR’s offering beyond HR to also include recruitment, learning and payroll solutions through the CIPHR Connect HCM platform. Between 2016 and 2020 CIPHR invested heavily, doubling its headcount, driving a compound annual revenue growth of over 25%.
CIPHR is a specialist provider of SaaS HR, payroll, recruitment and learning software which connects businesses with their employees via an online platform, CIPHR Connect.
The business’ marketplace offering allows its proprietary HR software to be integrated with customers’ existing tools, taking the strain out of HR admin and improving data accuracy. CIPHR supports 300,000 employees across 50 countries globally, with customers including the Met Office, Natural History Museum and Volkswagen.
Our relationship with LDC has been extremely successful, not just in terms of financial growth, but also the development of our offering to meet the needs of our customers. The support and experience provided by Chris Baker, Alastair Weinel and the rest of the team at LDC has been invaluable.”
Chris Baker, Investment Director at LDC in the South said: “From the very start of our partnership with CIPHR’s management team back in 2016, it was clear their growth potential was significant. Through a series of strategic acquisitions, the business has extended its product suite and footprint to become a market leader in its field, and continued to drive customer acquisition through its best-in-class service. We wish Chris and his team the very best on the next phase of their exciting growth journey.”