Investment type
- Management buyout
Four acquisitions during four-year partnership supports growth at HR software provider.
CIPHR is a leading UK provider of HCM software solutions.
May 2016
December 2020
CIPHR is a specialist provider of SaaS HR, payroll, recruitment and learning software which connects businesses with their employees via an online platform, CIPHR Connect.
The business’ marketplace offering allows its proprietary HR software to be integrated with customers’ existing tools, taking the strain out of HR admin and improving data accuracy.
CIPHR supports 300,000 employees across 50 countries globally, with customers including the Met Office, Natural History Museum and Volkswagen.
Driving acquisitive and organic growth
In May 2016 we backed the management buyout of CIPHR, led by CEO Chris Berry to further develop its software as a service (SaaS) offering and expand its product range.
We supported the management team through significant investment in sales and marketing resource to further leverage its industry-leading SaaS platform and also worked with the team to identify potential acquisitions in the human capital management (HCM) software sector.
Chris Berry, CEO
CIPHR
LDC has supported the business to make four acquisitions, including Payroll Business Solutions Limited (PBS) in December 2019 and Digits in September 2020, which in addition to in-house platform development has helped broaden CIPHR’s software offering.
In March 2019 CIPHR was shortlisted for Best Performer – Accounting & Enterprise Software and featured in the top 15 best performing companies at the 2019 Megabuyte Emerging Stars awards.
Delivering growth
In December 2020, LDC exited its investment in CIPHR. During the four-year partnership, CIPHR invested in product development and completed four strategic acquisitions, expanding CIPHR’s offering beyond HR to also include recruitment, learning and payroll solutions through the CIPHR Connect HCM platform. Between 2016 and 2020 CIPHR invested heavily, doubling its headcount, driving a compound annual revenue growth of over 25%.
Chris Berry, CEO
CIPHR
Our partnership has helped the management team grow revenue from £6m to £16m in four years. This involved a specific sales enhancement project lead by LDC’s Value Creation Partners who worked in partnership with management to improve sales across lead generation and accounts management.
Alastair Hazell, Chairman
CIPHR