Serent-Backed Avionté Acquires AkkenCloud, a Staffing Software Company

Serent Capital

August 26, 2024

 

Avionté announced its acquisition of AkkenCloud, a staffing software company, fortifying Avionté’s position as a leader in end-to-end enterprise staffing platforms. AkkenCloud clients will benefit from Avionté’s full suite of staffing platform technologies, which includes a complete front and back office, a robust mobile talent application, and a powerful VMS, all supported by Avionté’s dedicated customer service team.

“We are thrilled to welcome AkkenCloud customers and employees to the Avionté community, which will expand our dedicated team of associates and the more than 1,000 staffing agencies leveraging Avionté’s enterprise staffing platform,” said Rishabh Mehrotra, CEO of Avionté. “By partnering with Avionté, the team at AkkenCloud is working to ensure its customers will stay ahead with our end-to-end staffing platform, which delivers all the resources, stability, and security required for long-term growth.”

The acquisition underscores growing industry consolidation as smaller staffing software providers find it increasingly difficult to invest in the technology, security, and support required to remain competitive. Rapidly evolving employer buying patterns and talent work preferences are pressuring staffing agencies to offer complete workforce solutions that meet client expectations for speed, compliance, and flexibility. As such, successful staffing firms require software partners that have the scale and expertise to keep pace with the latest trends in AI, security, platform automation, and mobile capabilities.

“As I considered the best partner for AkkenCloud, Avionté was the right choice for customers and employees alike,” said Giridhar Akkineni, founder and CEO of AkkenCloud. “Given the investment required to succeed in staffing software today, we saw that AkkenCloud could no longer compete as an independent company. With Avionté, AkkenCloud customers will have access to the most innovative solutions on the market and the resources to help them grow, scale, and succeed now and in the future. I am excited to introduce our customers and employees to the Avionté community.”

Avionté is committed to ensuring the success of all AkkenCloud clients and will work closely with each of them to determine the most suitable timeline for transitioning to Avionté’s enterprise staffing platform. Akkineni will take an active role to help ensure the successful transition of AkkenCloud customers to the Avionté platform. AkkenCloud employees will be recognized as part of Avionté effective immediately. Terms of the deal are not disclosed.

Added Mehrotra, “Avionté is committed to helping staffing agencies navigate the evolving staffing software market via the most innovative and robust solutions available. Our acquisition of AkkenCloud is a testament to that commitment. We anticipate more market consolidation as smaller staffing software companies struggle to compete in this new reality.”

About Avionté

Avionté is a proven leader in enterprise staffing platforms, providing a comprehensive end-to-end, cloud-based technology solution designed for scalability and growth. The Avionté platform delivers a complete front and back office, a robust mobile talent application, and a powerful VMS. With a single staffing platform, agencies can now manage the entire supply chain of labor, from employer to agency to talent and back. Learn more at https://www.avionte.com.

Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. Learn more about our portfolio companies.

Other News at Serent Capital

At Serent Capital, we work hard to create effective and longstanding growth with all our portfolio companies. Here’s what we’ve been up to recently.

Disclaimer:

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Serent Capital or any company in which Serent Capital or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Serent Capital does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Serent Capital’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision.
Executive endorsements of Serent Capital are for illustrative purposes, designed to attract business development contacts, and should not be construed as a client or investor testimonial of Serent Capital’s investment advisory services. All such endorsements are from current or former portfolio company leadership about Serent Capital’s ability to provide services to their companies. Certain executives are also investors in Serent Capital’s investment vehicle(s), and as such, there is an inherent conflict in that those executives have an incentive to provide favorable reviews of Serent Capital’s business practices for the benefit of the investment vehicles that they hold a personal ownership interest in. Serent Capital has not, directly or indirectly, paid any compensation to such individuals for their endorsements.
Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Serent Capital undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

Categories: News

Tags:

About the Author

Website: http://www.private-equitynews.com