Charlotte private equity firm Frontier Capital announced a $40 million majority growth investment in Indiana-based Electronic Commerce Inc. on Thursday.
This investment is the first from Frontier’s $390 million Fund IV, which it is using to continue its strategy of investing in high-growth software and business services companies. It’s the company’s fifth recent investment in companies focused on human capital management.
Founded in 1999 and headquartered in Charlotte’s midtown area, Frontier invests in companies with annual revenues ranging from $5 million to $30 million.
Electronic Commerce Inc. offers a cloud-based human capital management platform for the entire employee lifecycle. Among other initiatives, the investment will support Electronic Commerce Inc. in enhancing its platform.