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OneSource Virtual Received $150 Million Investment from Technology Crossover Ventures

Monday, June 22, 2015

OneSource

William Blair & Company acted as exclusive financial advisor to OneSource Virtual HR, Inc., in connection with its investment from Technology Crossover Ventures. The transaction closed on June 4, 2015.

Transaction Highlights

  • Sector expertise: OneSource Virtual was attracted to William Blair’s extensive knowledge and transaction experience within the HR technology, SaaS, and IT services sectors, as well as strong relationships with likely strategic acquirers and financial investors.
     
  • Strong client relationship: William Blair developed a deep relationship with the OneSource Virtual management team and board of directors through frequent interaction since 2013 and their participation in William Blair’s Private Equity Conference. In addition, William Blair has maintained a trusted, long-standing relationship with OneSource Virtual’s existing investor, Halyard Capital, through William Blair’s financial sponsor group.
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  • Trusted guidance: William Blair’s transaction team was integrally involved in each step of the transaction process, including close collaboration with management in developing unique marketing materials and financial analyses highlighting the strengths of the business and negotiation of key investment terms. This enabled William Blair to secure a premium outcome for OneSource Virtual and its management team with a strong financial partner to help drive future growth.

About the Companies

OneSource Virtual is the leading end-to-end Business-Process-as-a-Service (BPaaS) and professional services platform for the Workday ecosystem. The company’s Atmosphere software technology enables true BPaaS automation and significant competitive differentiation that has established OneSource Virtual as the most experienced partner in the Workday ecosystem. OneSource Virtual’s platform provides a single database and single point of integration that streamlines work processes, minimizes costs, and ensures customers maintain control over their data, thus making it the optimal choice for enterprises outsourcing their HR functions. The company was founded in 2008 and is based in Irving, Texas.

Technology Crossover Ventures (TCV), founded in 1995, is a leading provider of capital to growth-stage private and public companies in the technology industry. With nearly $10 billion in capital raised, TCV has invested in more than 200 technology companies over the last 20 years. TCV is based in Palo Alto, California, with offices in New York and London.

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