DayNine Consulting Receives Growth Equity Investment from Pamlico Capital
Investment will support Workday partner’s continued global growth
DayNine Consulting, Inc. (“DayNine” or the “Company”) and Pamlico Capital (“Pamlico”) announced today that Pamlico has completed a significant equity investment in the Company. DayNine, a global Workday (NYSE: WDAY) services partner, will use the growth capital to support aggressive expansion around the globe, and for further development of proprietary tools that differentiate DayNine’s capabilities in the Workday ecosystem.
Pamlico’s investment in DayNine’s expansion represents the Company’s first institutional funding. DayNine’s management and employees will retain majority ownership of the Company and a representative of Pamlico will join the DayNine Board of Directors. Detailed terms of the transaction have not been disclosed.
DayNine deploys and optimizes Workday Human Capital Management, Workday Payroll, Workday Financial Management, and Workday Recruiting for businesses of all sizes. With global offices in seven North American and European cities, and customer engagements in 83 countries, DayNine has developed a solid reputation for its expertise in complex Workday deployments for enterprise customers with dynamic and global operations. The only global Workday-exclusive services partner, DayNine serves customers by extending Workday’s deployment tools and methodology, with DayNine's proprietary tools and services that accelerate time-to-value and increase customer satisfaction.
“We chose to partner with Pamlico because of their successful track record with business and technology services investments, as well as their interest and expertise in Cloud solutions,” said Tim Ramos, co-founder and CEO of DayNine. “Since our 2009 founding, DayNine has been growing at an 86% compounded annual growth rate. Pamlico’s investment provides DayNine strong financial and advisory resources with which to build upon our significant presence in the Workday ecosystem. Their investment will enable us to boost an already robust global growth rate.”
Pamlico Partner Scott Stevens said, “Our focus on investing in software services businesses that support the accelerating adoption of leading Cloud solutions led us to DayNine. We are extremely impressed by the caliber of DayNine’s leadership, the deep domain expertise and breadth of services offered by its consultants, the Company’s remarkable record of customer satisfaction, and its strong position in the attractive Workday ecosystem.”
DayNine was advised by Clearsight Advisors.
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DayNine Consulting, Inc.
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Pamlico Capital is a private equity firm founded in 1988 that invests in growing middle market companies in North America. Pamlico Capital seeks control-oriented growth equity investments of up to $200 million alongside founders and proven leaders in its target industries: communications, healthcare, services and software. The firm, based in Charlotte, NC, has assets under management of approximately $4 billion. For additional information, please visit www.pamlicocapital.com.