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| Patersons HR and Payroll Solutions Secures $30 Million Patersons HR and Payroll Solutions has announced details of its Series A financing. The round of $30 million was led by Rho Ventures and partner, Paul Bartlett, has joined Patersons' board of directors. Investment banking firm, Montgomery & Co., advised and managed the placement. Previously financed by a group of private investors, Patersons HR and Payroll Solutions was founded in 1996 by Chief Executive Karen Paterson. Paterson identified the crucial role that the Internet was going to play in global HR and payroll business processes and developed the company's native Web-based offering, Logon2. Logon2 fully leverages the Software-as-a-Service platform and features robust functionality, including employee and manager self service; a global multi-lingual, multi-currency HR suite; online global payroll processing; expatriate management; performance management; flexible benefits and benefits administration; and a full business intelligence and reporting suite. In 2007, the company had grown 395% over the previous year and Patersons has rapidly earned recognition as a forerunner of the next-generation of payroll and HR management solutions. write your comments about the article :: © 2008 Computing News :: home page |