Philadelphia private equity firm LLR Partners has made a $20 million investment in Aasonn LLC, a technology services group.
Naperville, Illinois-based Aasonn provides human resources and talent management technology services. The company will use the investment to develop a service that will provide outsourced HR services through cloud technology, aiming to allow companies to standardize their HR processes, automate workflows, access analytics and lower costs.
LLR has invested in several tech-enabled services businesses, including Logi Analytics, a company that develops products for clients to analyze data.
In March, the firm closed its fourth fund with $950 million in committed capital. LLR usually invests between $15 million and $100 million in companies with up to $150 million in annual revenue. For more with LLR, see "3Qs With Christian Bullitt, LLR Partners."
LLR is just one of many private equity firms to close a fund during the best fundraising climate we have seen in years.