BOSTON, February 26, 2020 – BV Investment Partners (“BV”), a middle-market private equity firm focused on the business services, software and IT services sectors, today announced that it has made a significant minority investment in TopBloc, a Workday (NASDAQ:WDAY) services partner.
Workday is a leading provider of cloud enterprise resource planning solutions for human capital and financial management. TopBloc provides initial and phased Workday implementations, help desk technical and functional support, and managed payroll services across a wide range of industries, including technology, financial services, business services, and other sectors. Its services are augmented by proprietary technology which drives efficiency gains and facilitates data extraction and migration for customers. Established in 2016, TopBloc is based in Chicago and is managed by its team of founders, including Christopher Skinner, Chief Executive Officer.
Mr. Skinner said, “TopBloc is obsessed with innovation and customer satisfaction. Our goal is to leverage new ideas, methods, and systems to make Workday available to the broadest possible audience, while also delivering insights that drive more strategic decision-making and employee engagement. With the support of the BV investment team, we will be better able to help more customers achieve higher quality Workday implementations in less time and at lower cost.”
Matt Kinsey, Managing Director of BV Investment Partners, said, “TopBloc is a unique tech-enabled Workday partner and one of a select group of providers serving the medium enterprise market. The company has a tremendous reputation and is well positioned to continue to grow faster than the overall Workday ecosystem. The BV team looks forward to working with Chris and the senior management team of TopBloc to help the business continue to scale while enabling Workday customers to maximize the software investments they’ve made.”
Eric Ahlgren, Principal of BV Investment Partners, added, “This is an exciting investment for BV and it fits directly within our scope of investments. We are excited to partner with TopBloc’s founders and continue to build on their exciting work and help accelerate the company’s growth.”
TopBloc is BV’s eleventh investment in its ninth fund.
About BV Investment Partners
BV Investment Partners is currently investing its ninth private equity fund. The firm is one of the oldest and most experienced sector-focused private equity firms in North America. Since its founding in 1983, the firm has invested $3.5 billion, actively targeting investments in the business services, software and IT services industries. For more information, please visit www.bvlp.com.