OnShift Inc. is poised to kick into a higher growth gear.
The Cleveland-based post-acute care and senior living staff scheduling software company announced in a news release late Tuesday, Oct. 24, that it has received “a strategic equity investment” from private investment firm Clearlake Capital Group L.P., with participation from the Ziegler Link•Age Fund II L.P., a private equity fund focused on the post-acute and aging marketplace, and existing investor Health Velocity Capital.
Financial terms of the transaction were not disclosed. Dan Groen, principal of Santa Monica, Calif.-based Clearlake, and the firm’s vice president, Paul Huber, will join OnShift’s board of directors. An OnShift spokesperson didn’t immediately reply to an email on Wednesday morning, Oct. 25, seeking additional comment.
The investment “will be used to expand OnShift’s product development in recruitment, workforce and talent management, and accelerate sales and marketing plans,” the company said in the release. OnShift said its software-as-a-service platform “facilitates scheduling, labor analytics, workforce planning, employee financial wellness, employee engagement, applicant tracking and recruitment management for nearly 5,000 customers.”
Read the full story at Crain’s Cleveland Business.