Edison, NJ – December 10, 2009 – CheckPoint HR, a leading provider of payroll services, human resource management services (HRMS) and employee benefits consulting, announces the completion of a US$2.5 million venture loan from MMV Financial. The Company is a leading provider of web-based human resource management for small to mid-sized businesses. CheckPoint HR is privately held with investment from New Jersey based Edison Venture Fund.
"CheckPoint HR is pleased to have MMV Financial as a new financial partner.” said Tim Padva, Chief Executive Officer of CheckPoint HR. “We will use these funds to continue growing our business through investment in sales and marketing and technology development.”
“CheckPoint HR has differentiated itself in the payroll and HRMS space by providing clients with a web-based, seamless, comprehensive platform. The Company also offers its clients competitive benefits programs and effective options based on employee demographics.” said Greg Dimmer, Senior Vice President, MMV Financial. “The Company has a very effective management team, a growing client base in the North East and is well supported by its investors.”
About CheckPoint HR
CheckPoint HR based in Edison, New Jersey, is the trusted ally in web-based Human Resources management for small to mid-sized companies. The company's complete portfolio combines payroll, benefits and HR management services with a web-based Human Resource Management System (HRMS) technology platform to offer customers an affordable and centralized solution. This allows small to mid-size companies to improve efficiencies, streamline operations and reduce costs. The company has approximately 400 clients including: Innophos Holdings, Inc., New York Organ Donor Network, Hamon USA, Kyowa Pharmaceutical. For more information, visit: www.checkpointhr.com
MMV Financial is a specialty finance company providing creative debt solutions directly to technology and life sciences companies across North America. MMV is backed by top U.S. and Canadian private equity firms and financial institutions including CCP Equity Partners, Caisse de dépôt et placement du Québec, Fonds de Solidarité des Travailleurs du Quebec, HSBC Bank Canada, NewStar Financial Inc., ROI Capital, and Wells Fargo Company. For more information please visit: www.mmvf.com
Contacts:
For CheckPoint HR
Tim Padva
President & CEO
CheckPoint HR
(732) 287-8270
For MMV Financial
Greg Dimmer
Senior Vice President
MMV Financial Inc.
(416) 977-9718