HighBar Partners acquires cloud-based tech platform SilkRoad Technology

California-based private equity investor HighBar Partners has acquired SilkRoad Technology, a software and cloud-based technology platform, for an undisclosed price.

Based in Chicago, SilkRoad Technology has designed a platform for increasing employee satisfaction and productivity.

HighBar Partners has also agreed to arrange additional growth equity financing to SilkRoad Technology for further developing its SaaS capabilities, elevate its technology stack, and provide new secure global business solutions that help in digital and workforce transformation.

SilkRoad Technology’s existing investors — Foundation Capital and Two Sigma Ventures are also taking part in the growth equity financing.

Jayson Yuan — Partner at HighBar Partners said: “HighBar is thrilled to partner with SilkRoad Technology as we recognize the criticality of the employee experience and the need for digital solutions to drive mobility, productivity and revenue performance.

“SilkRoad’s existing capabilities in and vision for the talent management space put the company in a strategic position to drive significant change for enterprise organizations, to assist in the deployment of talent where the organization needs it most, and to accelerate employee contributions delivering impactful outcomes for its customers.”

Founded in 2003, SilkRoad Technology has developed a software and services platform to enable its clients in attracting, retaining, and aligning people to their business.

The company’s Global Client Services provide strategic HR and business expertise. It delivers customized experiences for employees for driving engagement across the employment lifecycle for facilitating measurable and improved business outcomes.

Robert Dvorak — President and CEO of SilkRoad Technology said: “Entering this new phase of growth and innovation, we’re excited to partner with HighBar as we share a client-centric, innovative, outcome-oriented approach. HighBar offers resources and guidance to organizational strategy and performance that we’ll need to lead clients to new levels of resilience and business value.

“Stronger executive insights, enterprise visibility and modeling will help companies adopt agile talent strategies powered by an energized, continuously relevant employee base.

“Together, our core solutions and long-term capabilities will put our clients in a position to effectively navigate any change or disruption with greater predictability that doesn’t exist today.”