RICHMOND, VA (10/10/2014) – K12 Enterprise, Microsoft’s leading financial and human resources management software solution for K-12 school systems, announced today an agreement for a private equity investment to support expansion of the company’s operations.
“Over the past year, we have seen a steady increase in the demand for our products and services as school systems across the nation look for modern, state-of-the-art solutions to replace their aging, legacy financial and human resource management systems,” K12 Enterprise CEO Jeremy Fass said. “More than ever, school systems need solutions to help automate processes and streamline functions across all facets of their operations.
“With this new partnership, we have an investor that not only provides additional capital, but also provides entrepreneurial expertise and stewardship as the company enters into this next stage of growth,” Fass added.
The investor, Todd Marshall of Minnesota, has a track record of driving successful business expansion through his work within the dental industry. Marshall’s investment in K12 Enterprise supports his passion for helping businesses maximize their growth potential and his desire to help the education industry.
“First and foremost, I believe that K12 Enterprise has strong growth potential and the infusion of capital will certainly aid in that growth,” Marshall said, “but I also have a chance to serve an industry that is near and dear to my heart (Education). The operations of K-12 school systems have historically lagged behind other industries in terms of technology. If we can help to improve the operational efficiency of school systems, it will have a positive effect on the overall industry.”
Marshall noted that the modernization of financial management and human resources practices will in turn allow school systems to “focus resources more effectively on the vital mission of educating our children.”
Built upon Microsoft’s leading ERP system, Dynamics NAV, K12 Enterprise enables school systems to streamline business operations by automating tasks, increasing information flow, and eliminating waste, all while ensuring compliance with local, state, and federal reporting requirements.
K12 Enterprise has seen steady growth since its launch in 2009, including the 2012 acquisition of Sartox, LLC, a Virginia-based software firm which serves more than 50 percent of the school systems in North Carolina, as well as customers in Virginia. In 2013, K12 Enterprise also entered into a strategic partnership with the Tri-Rivers Educational Computer Association (TRECA) to provide Ohio school districts with an alternative to the State’s software system.
“With the growth we have seen in recent years and the resources provided by this investment, we have an opportunity to not just meet growing demand, but also to ensure K12 Enterprise strengthens its position as one of the leading innovators of advanced business solutions for K-12 school systems,” Fass said.
About K12 Enterprise
K12 Enterprise is Microsoft’s only enterprise-grade financial and human resource management software for K-12 school systems. Built within Microsoft Dynamics, K12 Enterprise was created with the specific financial management, HR, payroll, and state reporting functionality required by school systems. K12 Enterprise provides software, implementation, consultation, training, and support. Learn more at www.k12enterprise.com.