Thursday, 18 Jun 2015
Growth capital will support global expansion, the development of its Finance & Accounting Outsourcing (FAO) offering, and the expansion of other technology-enabled products and services for Workday customers. Technology Crossover Ventures joins previous investor Halyard Capital. The investment closed on June 4, 2015.
. . . on the local level, your MesaZona blogger received an email on Friday from Kevin Hautzinger, OSV Director of Marketing, stating "We do plan to use part of the investment to expand our operations in the
Mesa office.
We currently have 68 employees at that location and will
be expanding to 120 employees by the
end of the year . . . "
 |
| Wesley Bryan, President & COO |
In a report from AZTechBeat in September 2014 “For more than six years, OneSource Virtual has
experienced tremendous growth, and the expansion into a second processing
facility is a natural evolution for the company,” Bryan said in a press
release. “We are transitioning to a geographic servicing model with customers
in the Pacific and Mountain time zones being serviced from the Phoenix office,
while focusing the Dallas operation on customers in the Central and Eastern
time zones.”
A spokesperson from OneSource Virtual, told AZTB that the Phoenix
area was chosen out of a shortlist of locations that included Seattle and Salt
Lake City and that Mesa specifically was selected based on available office
space and the proximity to the airport.
The spokesperson said working with Mesa officials to secure all the necessary paperwork was “simple and pain-free.”
The spokesperson said working with Mesa officials to secure all the necessary paperwork was “simple and pain-free.”
Readers of this blog might wonder what OneSource Virtual does: OneSource Virtual (OneSource) is an innovative
Business Process as a Service (BPaaS) provider and Workday (NYSE: WDAY)
services partner. The sizeable investment from Technology Crossover Ventures will support global expansion, the development of its
Finance & Accounting Outsourcing (FAO) offering, and the expansion of other
technology-enabled products and services for Workday customers
“This investment from Technology Crossover Ventures further validates our
business model is more than just ahead of the curve, it’s cutting-edge and will
create opportunities for accelerated growth into the future,” said Brian Williams, CEO for
OneSource Virtual. “Through this partnership, we will be able to
better serve our existing customer base with expanded offerings, while
developing new customer and partner relationships in North America and
abroad.”
 |
| Brian Williams, CEO |
“We invest in many market-leading technology companies. There was a lot of excitement around OneSource Virtual and their unique and innovative approach. The in-application service delivery model OSV developed for Workday customers puts them at the forefront of their industry,” said Jake Reynolds, general partner of Technology Crossover Ventures. “This company’s tremendous growth has been incredible to witness and we look forward to working with their innovative management team as this growth continues.”
William Blair & Company, LLC, acted as advisors on the transaction.
William Blair: Global Investment Banking & Asset Management
You can see the TCV's current portfolio here > http://www.tcv.com/portfolio/
Here's a link to a 1:02 You Tube video all about WorkDay:
OneSource Virtual HR, Inc > https://youtu.be/rxns-U4tbPs
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