PORTFOLIO

CIPHR: Acquisitive cloud-based software provider

Management buyout supporting growth at HR software provider including 40 per cent revenue increase in first two years.

Sector
  • Technology, Media, Telecoms

CIPHR is a leading UK-based developer and provider of HR software as a service (SaaS).

Deal type
  • Management buyout
The Team
LDC Region

CIPHR provides HR management software targeted at small and medium-sized organisations with between 100 and 5,000 employees.

Managing growth

In May 2016 we backed the management buyout of CIPHR, led by CEO Chris Berry to further develop its software as a service (SaaS) offering and expand its product range.

We supported the management team through significant investment in sales and marketing resource to further leverage its industry-leading SaaS platform and also worked with the team to identify potential acquisitions in the human capital management (HCM) software sector.

LDC is an experienced investment partner with a lot of expertise in the SaaS arena. The team quickly understood our model, ambition and strategy for the business. LDC has already introduced us to several of their existing portfolio companies for whom the CIPHR product is ideal.”
Chris Berry, CEO
CIPHR

LDC has supported the business to make four acquisitions, including Payroll Business Solutions Limited (PBS) in December 2019 and Digits in September 2020, which in addition to in-house platform development has helped broaden CIPHR’s software offering.

Our partnership has helped the management team grow revenue from £6m to £16m in four years. This involved a specific sales enhancement project lead by LDC’s Value Creation Partnerswho worked in partnership with management to improve sales across lead generation and accounts management.

In March 2019 CIPHR was shortlisted for Best Performer – Accounting & Enterprise Software and featured in the top 15 best performing companies at the 2019 Megabuyte Emerging Stars awards.

LDC’s Value Creation Partners have shown CIPHR what is possible, where targets need to be and provided the tools to get there. It has also been very helpful for people development.”
Alastair Hazell, Chairman
CIPHR

Awards

Top 15 best performing companies

Megabuyte Emerging Stars Awards 2019