| AtWork Technologies, a provider of Internet-based human resource management applications for mid-sized companies, announced that Roseland, NJ.-based Automatic Data Processing (ADP) has made a $5 million minority equity investment in AtWork Technologies.
AtWork and ADP will also partner on a comprehensive Web-based solution which will allow mid-market companies to manage their employees' health and welfare benefits. ADP Benefits Expert, AtWork, targets companies with 100 to 5,000 employees, and will allow clients to set up complex health benefits plans, calculate eligibility, reconcile premiums and provide employee self-service.
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"We are extremely excited that the world's largest provider of employer services has become a strategic equity partner," said Don Taylor, AtWork's founder, president and CEO. "The core of our efforts has been on building world-class HR and benefits solutions that address the special needs of mid-market organizations."
According to AtWork's vice president of marketing Sami Jajeh, the alliance between AtWork and ADP is a natural fit.
"When we started doing some strategic planning to develop our business plan, we made a list of possible companies that we'd like to partner with. One of the companies we identified was ADP. They have a high regard of service, using the internet. We competed very heavily with other businesses, and we came out on top. And it's an added bonus that ADP felt so good about this that they decided to invest in the company."
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Jajeh said the $5 million investment will allow AtWork to continue to invest in their product marketing, infrastructure and customer care areas that relate to rapid growth in business, and will expand its sales and marketing activities.
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"Our investment in AtWork Technologies signifies a tremendous alignment in our respective visions and strategies," ADP Employer Services president Russ Fradin said in a press statement. "The combination of our co-branded benefits solution, distribution agreement and equity investment positions ADP to emerge as the industry's leading Internet-based benefits administration solution."
AtWork was founded in 1998.
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