Charlotte-based isolved is growing, once again, with the recent acquisition of predictive people analytics platform TrenData HR.
The company announced the TrenData acquisition on Tuesday. The deal closed on June 28. Financial terms were not made public. In April, isolved acquired Givful, a workplace philanthropy platform that changes how people give and volunteer to be more purposeful.
Geoff Webb, isolved vice president of product marketing and strategy, said onboarding the TrenData platform will help companies, large and small, use their own human resources data to better understand and serve their employees.
"We chose TrenData because it forms a significant part of the direction HR tech is moving into. It gives our customers the ability to unlock the value that’s inside that data that HR has," he said. "TrenData enables us to give our customers the capacity to do the analytics and better understand what’s happening right now. It also lets them model things in the future and be predictive, which is really powerful."
Webb said isolved's software-as-a-service platform, People Cloud, helps employers recruit, train and retain employees.
"Our software technology platform enables business to get the best out of their employees," Webb said. "We’re in a great position to help companies get through the challenges and get to the opportunity space."
Webb said isolved has maintained a relationship with TrenData over the years, so when talks of acquiring the company began, executives knew its platform was a good fit. TrenData's employees will remain on staff with isolved, and the company will begin rolling out a fully integrated version of its software over the next few months, he said.
"The kind of tech TrenData brings is something that’s only been available to larger companies up until now," Webb said. "One of the things we’re doing is enabling all companies of any size, because even smaller businesses should have the ability to understand their workforce."
He added, "This insight is critical to that. I think that democratization of this kind of analytic power and AI and machine learning in the workplace is healthy and something we're really proud of."
