Guidepost injects $20m into Elements Global Services

The deal is Elements' first institutional capital raise. The company plans to further accelerate growth by adding talent to its global workforce and expanding its suite of HR products.

The investment is the first from Guidepost's third fund. The firm was known as North Bridge Growth until 2017 and came back to market at the end of last year with a target of $400m for its third vehicle, according to press reports.

While predominantly investing in the US, the PE house has a small number of European portfolio companies, including Outsystems in Portugal and Spil Games in the Netherlands.

Company
Founded in 2015, Elements provides HR technology and services in 135 countries worldwide. Its offering includes HR, payroll, benefits, local compliance and visa mobility services. Its model – known as direct employer of record – enables companies to expand their workforce, as well as manage and pay employees worldwide.

Headquartered in Barcelona, the company has several international offices.

People
Guidepost Growth Equity – Won Park (principal).

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• Topics
• Expansion
• Southern Europe
• Technology
• Support services
• Spain