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First Advantage, a leading global provider of talent acquisition and electronic data solutions, today announced that it has made a significant minority investment in Workstream Inc., headquartered in Maitland, Florida. The investment in Workstream was announced by Todd Mavis, CEO of First Advantage.
Workstream is a supplier of talent acquisition and talent management solutions and services for employers. The company’s Software as a Service (SaaS) solutions help employers manage critical issues relating to the performance, development and compensation of personnel. Workstream’s innovative systems are delivered in a Software as a Service (SaaS) offering to employers in a range of market segments.
Commenting on the investment, John Long, Workstream CEO, said: “We welcome the investment from First Advantage as we continue to execute on our business plan to build a leading software and technology-enabled services business. We are focused on the critical needs of employers to match their talent strategy with their business strategy in key areas such as recruitment, performance, development and compensation management. This strategic investment will help drive innovative business concepts and continued growth of Workstream’s offering.”
“First Advantage is an excellent, visionary company and this relationship will benefit Workstream going forward,” Long added, “There are potential ways to capitalize on innovative research resources and a powerful international distribution network. This investment will help us move faster with our ambitious growth objectives.”
First Advantage supplies a range of human resource and legal support services. These services are used by over ten thousand employers for the recruitment, screening, on-boarding and assessment of job applicants and current personnel.
Making the announcement, Todd Mavis, CEO of First Advantage, said: “We are investing in Workstream for its high speed of innovation and entrepreneurial approach to bringing important solutions to the fast-growing human capital market. The services offered to employers are complementary to our own and bring exciting potential opportunities for our business.”
In connection with the investment, Marc Bala, a Director of First Advantage and Principal with Symphony Technology Group, Palo Alto, California, will join the Workstream, Inc. Board of Directors.
To learn more about First Advantage, go to www.fadv.com.
To learn more about Workstream, visit www.workstreaminc.com
Matt Lafata, HRchitect