TempoSoft consolidates

French human capital management software publisher, TempoSoft is in the process of consolidating its development strategy and at the same time has raised E10.5 million in a third round of venture capital funding.

New investor Add Partners joins the company’s first round investors Atlas Venture, CDC Innovation and PRE-IPO.net. The new funds will fuel the company’s European operations but also help it grow in the north American markets. “Priority now goes to positioning ourselves in the American market and initial successes that we are about to announce are very encouraging,” said Pierre Cesarini, founder and CEO of TempoSoft. In just two years, the company has found a foothold in the French market and also broken into the UK market.

At present the company employs 100 staff but has said this will double during 2002. This growth strategy focuses on strengthening the company’s market share as a publisher of human capital management subjects.

“We firmly share TempoSoft’s international ambition,” said Sebastien de Lafond, managing partner of Add Partners, a London-based capital risk fund.

TempoSoft’s first round of funding totalled E3.5 million in 1998. In May 2000, Atlas Venture, CDC Innovation (a subsidiary of Caisse des Depots), Marks & Spencer Venture, PRE-IPO.net collectively invested E7 million in the company’s second round.

The company’s software is designed on native intranet architecture and integrating advanced optimisation technology, it helps budget, forecast and schedule and support human resource management processes.

The company said some of the principal companies it works with include Carrefour, Casiso Supermarches, Champion, Compass Eurest, Credit Mutuel, Dilipack, France Telecom Transpac, Geant Casino, Lyonnaise des Eaux, Marks & Spencer UK and Pechiney.

As well as offices in Paris, TempoSoft has offices in Germany, the UK and the US and said its sales should total around E11.5 million in 2001.