Partnership to accelerate growth and expand company’s platform for the education software market
EXTON, Pa., and NEW YORK, May 2, 2014 – Frontline Technologies, a leading provider of web-based software for the K-12 education market, today announced a significant investment by Insight Venture Partners, a leading global private equity and venture capital firm.
The partnership with Insight will help advance Frontline's market leadership position and accelerate revenue growth through acquisitions and building of new products for the education market.
"We are extremely excited by this next phase for Frontline," said co-founder Roland Thompson. "For the past 15 years, we have worked to develop and market software solutions to make life easier for school districts and educational professionals. While our continued growth and customer feedback have validated our efforts, this partnership now provides further validation as well as the resources to expand our portfolio of solutions for current and future customers."
Frontline Technologies is best known in the K-12 software industry for Aesop, an automated substitute placement and absence management system that was the first to offer sub placement via the phone and patented internet technologies. Through a variety of administrative and educational tools, Frontline serves nearly 4,000 school districts and millions of teachers and educational employees across the United States.
Alex Crisses, Managing Director at Insight Venture Partners, noted, "Frontline Technologies has proven their market leadership through the widespread adoption of their innovative products. We have been impressed by their consistent growth and reputation for outstanding customer service, and we look forward to working with Frontline to build upon this success."
As part of the partnership, Alex Crisses, Nikitas Koutoupes, and Brad Twohig of Insight will join Frontline's board of directors. Frontline's current leadership team will continue managing operations for the company and emphasized that the new partnership will support the unique culture at Frontline.
"We have built our success and reputation on our core values and a passionate focus on the needs of our customers," said co-founder Michael Blackstone. "We are fortunate to have found a partner like Insight that, based on their proven track record and reputation, truly values that foundation. Our guiding principles will not change – rather, they will be strengthened as we expand our offerings to our client base and grow our resources to better serve the K-12 market."
About Frontline Technologies
Frontline Technologies is dedicated to revolutionizing workforce management through innovative web-based technologies. In 1998, Frontline launched into the K-12 market with Aesop, a breakthrough automated substitute placement and absence management system. Since then, Frontline has continued to develop SaaS-based offerings including VeriTime, a time and attendance management system, and Jobulator, an automatic job-notification service for substitute teachers. Frontline currently serves nearly 4,000 school districts and millions of teachers nationwide as well as global clients in a variety of industries including health care, security and live events staffing, manufacturing and libraries.
About Insight Venture Partners
Insight Venture Partners is a leading global private equity and venture capital firm investing in software, Internet, and data-services companies. Founded in 1995, Insight has raised more than $7.6 billion and made more than 190 investments worldwide. Insight's mission is to find, fund, and work successfully with visionary executives who are driving change in their industries. Insight provides them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit insightpartners.com.