ECA today announced a multi-million pound investment from Pelican Capital LLP (“Pelican”) to accelerate development of its software-as-a-service businesses that help companies manage their internationally mobile workforce.
The group – comprising ECA International (“ECA”), Tracker Software Technologies (“TST”) and a minority investment in Global Expat Pay (“GEP”) – combine to create a single authoritative source of data and technology to support global mobility and HR teams across the world.
Together, they enable customers to automate and optimise relocation processes and approval flows, set and benchmark remuneration for their global workforces, navigate the complex tax and immigration rules that come with overseas assignments, business trips and remote working, and bring accuracy and efficiency to global payroll and tax reporting.
The group provides services to over 500 companies operating globally and based in more than 70 jurisdictions. As securing talent in the right locations continues to be a challenge and with business travel resuming, the group’s services are increasingly in demand, especially with inflation and remote working becoming more entrenched.
With this investment, Pelican is backing the management team to transform its technology, rapidly scale the newer businesses in the group, and integrate the constituent parts to become the pre-eminent single point provider for global companies’ mobility needs.
Andrew Shaw, Group Chief Executive of the ECA International Group, said: “We’re delighted to be partnering with the Pelican team to accelerate our technology transformation, support the growth of TST and GEP, and build out our suite of innovative and complementary global mobility technology services. Pelican’s first-hand experience of being founders themselves, and their heritage in technology businesses, made them a clear favourite to support us in accelerating our mission. We were created by the industry for the industry, and that focus on client needs will forever be engrained in the Group’s DNA.”
Richard Morrison, Partner at Pelican Capital, said: “From its inception as a provider of world-leading international assignment data, ECA International has built a strong reputation over many decades for its rigorously researched data and integrated software tools backed up by superior client service on which its diverse and loyal global client base relies. With TST and GEP now part of the broader ECA International Group, high inflation in multiple jurisdictions driving increased demand for data, and an ever-greater focus on regulatory compliance, we’re in an enviable position to build the HR-tech business of the future.”
NOTES TO EDITORS
About the ECA International Group
With work increasingly mobile, and the way we work undergoing constant transformation, the ECA International Group is a trusted partner for managers handling an international workforce. Our suite of solutions give you the information, guidance and tools to manage compensation and benefits for international workers, as well as tax and immigration compliance for those who travel on business and work remotely.
For over 50 years, ECA International has been a leading provider of knowledge, data and technology to help structure and manage international mobility programmes. It offers organisations of all sizes an unrivalled portfolio of data, calculation aids, assignment management software, reports and surveys.
Through Tracker Software Technologies (TST), the Group also provides a unique database of tax and immigration rules that power its world-class SaaS platform to help companies manage compliance across their business travel and remote working programmes.
The Group’s products are complemented by specialist advisory services and dedicated support from client services teams in London, Dublin, Hong Kong, New York and Sydney.
About Pelican Capital
Pelican Capital provides funding to businesses with management teams needing up to £25m of equity funding to accelerate growth, and where required, facilitate ownership change. Focusing on what makes management teams successful, Pelican aligns flexible capital to the ambitions of its portfolio companies. As the single point of contact from first meeting through to exit, Pelican’s partners invest a substantial amount of their own capital in the businesses they invest in, alongside funds from family offices. This creates alignment between Pelican, the management team and the investors. With broad sector experience, and providing support to teams to professionalise their business, Pelican helps to develop and execute the right strategy to maximise growth.
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