Safeguard Global Secures Significant Growth Equity Investment from Accel-KKR

Safeguard
Global, a world leader in driving long-term growth through constant
innovation of global workforce deployment for businesses, today
announced it has secured a significant growth equity investment from Accel-KKR,
a leading Silicon Valley-based investment firm. Safeguard Global will
use the capital to further its innovation and leadership in deploying
workforce solutions, including payroll and employment services, as well
as to expand its global footprint to better serve its growing
international customer base.

“Multinational companies are desperately seeking partners that are
innovating to solve incredibly complex business challenges, and they are
moving away from the industry behemoths that are mostly just focused on
driving next-quarter sales,” said Bjorn Reynolds, Founder and CEO,
Safeguard Global. “Safeguard Global has a platform-centric vision that
enables multinational employers to make decisions at the intersection of
their employees and business. We couldn’t be more excited to partner
with Accel-KKR and leverage their experience and resources to help
Safeguard Global reach new heights.”

Safeguard Global offers industry-leading products and technologies that
empower businesses to grow, scale and pay employees in new geographies,
while adhering to country-specific rules, laws and regulations. For more
than 10 years, its comprehensive platform has removed the guesswork from
global expansion and payroll for some of the world’s leading brands. In
that time, Safeguard Global has grown from its initial offering of
international payroll solutions to a global expansion catalyst service
with employment outsourcing and more, helping more than 300 clients
scale and expand across 179 countries.

“We believe Safeguard Global is extremely well-positioned for long-term
growth and we are thrilled to partner with management to capitalize on
the opportunity ahead,” said Greg Williams, Managing Director at
Accel-KKR.

“As globalization continues to drive enterprise cross-border expansion,
comprehensive HR solutions for international personnel have become a
critical need for business managers. With its unique capabilities for
both deploying and paying international employees, Safeguard Global is
uniquely positioned for this growing global opportunity. We are excited
to help Safeguard Global further extend its differentiation,” Williams
added.

In addition to the funding, Accel-KKR will serve in an advisory capacity
in several areas of the Safeguard Global business. David Cusimano,
Principal at Accel-KKR, and Todd La Fever, President and Chief Operating
Officer at iSolved HCM, will join the Safeguard Global board of
directors.

Needham
& Company acted as exclusive financial advisor to Safeguard
Global for this transaction.

For more information on Safeguard Global, please visit www.safeguardglobal.com.

About Safeguard Global

Safeguard Global is the world leader in driving long-term growth through
constant innovation of global workforce deployment for businesses.
Leveraging more than 10 years of global outsourcing expertise and
technology development, Safeguard Global offers industry-leading
products and technologies, including Global
Employment Outsourcing (GEO) and Global
Managed Payroll (GMP), that empower businesses to grow and scale
quickly and efficiently, while ensuring compliance in 179 countries.
Safeguard Global is headquartered in Austin, Texas, with regional
service centers in the UK, India, Hungary and Mexico, employing more
than 500 people worldwide. For more information please visit www.safeguardglobal.com.

About Accel-KKR

Accel-KKR is a technology-focused investment firm with over $5 billion
in capital commitments. The firm focuses on software and IT-enabled
businesses, well-positioned for topline and bottom-line growth. At the
core of Accel-KKR’s investment strategy is a commitment to developing
strong partnerships with the management teams of its portfolio companies
and a focus on building value through significant resources available
through the Accel-KKR network. Accel-KKR focuses on middle-market
companies and provides a broad range of capital solutions including
buyout capital, minority-growth investments, and credit alternatives.
Accel-KKR also invests across a wide range of transaction types
including private company recapitalizations, divisional carve-outs and
going-private transactions. Accel-KKR is headquartered in Menlo Park,
California, with additional offices in Atlanta and London.

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