Absence Soft, a Palo Alto, California-based provider of SaaS platforms for complete absence and vacation management, received an investment from Norwest Venture Partners.
The size of the deal was not disclosed. As part of the investment, Norwest’s Rob Arditi and Ran Ding will join AbsenceSoft’s board of directors. Bow River Capital’s Software Growth Equity Fund will retain a significant equity stake and a seat on the board of directors to drive further growth.
The company intends to use the capital to expand its business operations and portfolio of solutions.
Led by John Huettel, President and CEO, AbsenceSoft provides companies of all sizes and industries with a cloud-based Total Absence Management platform to manage FMLA, ADA, disability and other forms of vacation to save time, reduce risk and employees to improve experience and stay compliant.
Founded in 2013, the company is now a leading provider of SaaS solutions for the absence / vacation management industry.
FinKMU
07/08/2021
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