AUSTIN, TX and BOSTON, MA--(MARKET WIRE)--Sep 8, 2008 -- PeopleAdmin, Inc., a leading provider of on-demand human resources software and solutions for higher education and public sector organizations, announced today that it has received an investment from Summit Partners, a private equity and venture capital firm that has raised more than $11 billion since inception.

Founded in 2000, PeopleAdmin delivers a suite of human resources (HR) modules that provides applicant tracking, position description, and performance management systems designed to fulfill the unique requirements of higher education and public sector organizations. PeopleAdmin's solutions are fully hosted using a Software-as-a-Service (SaaS) model that ensures quick implementation, eliminates paper and manual tasks, improves efficiency and service levels, and supports HR compliance initiatives.

Nearly 500 leading higher education and public sector organizations throughout North America use PeopleAdmin HR modules. PeopleAdmin has a diverse customer base that spans more than 45 states and includes city, county and state governments, colleges and universities, and research focused non-profit organizations. Some of PeopleAdmin's prominent customers include the City of Austin, the Commonwealth of Virginia, Dartmouth College, Princeton University, The Scripps Research Institute, University of Chicago, University of Notre Dame, University of Oklahoma, University of Pennsylvania, and Wake Forest University.

Jeff Carpenter, Cofounder and CEO of PeopleAdmin, said, "From the inception of PeopleAdmin, we have experienced tremendous growth as we have successfully launched new products and entered new markets. Teaming up with Summit Partners will provide our company with additional support as we expand our product offering and customer base." Jack Long, Chairman of the Board, added, "Summit's knowledge of the industry and long history of partnering with growing software companies will be invaluable to our organization."

"Jack Long and Jeff Carpenter have built an impressive company in PeopleAdmin. The high retention rate of PeopleAdmin's customers in a market that demands excellence is a testament to the quality and value of the solutions they offer," said Jason Glass, a Vice President at Summit Partners. "We are pleased to partner with such an outstanding management team and look forward to supporting the company as it continues to grow."

Jack Long and Jeff Carpenter will continue as Chairman and CEO. As part of their growth strategy, they plan to add more senior executive talent while enhancing the company's reputation for excellent customer service.

About PeopleAdmin

PeopleAdmin (www.peopleadmin.com) provides on-demand human resources software that fulfills the unique requirements of the higher education and public sectors. The company provides applicant tracking, position description, and performance management systems using a fully hosted, Software-as-a-Services (SaaS) model that eliminates paper and manual tasks, improves efficiency and service levels, and supports HR compliance initiatives. PeopleAdmin currently serves nearly 500 leading colleges, universities, government agencies and non-profits throughout North America.

About Summit Partners

Summit Partners (www.summitpartners.com) provides private equity and venture capital for growth companies. Founded in 1984, Summit has raised more than $11 billion in capital and has provided equity, recapitalization, and management buyout financing to more than 300 growing companies across a range of industries. These companies have completed nearly 125 public offerings and more than 110 have been acquired through strategic mergers and sales. Summit Partners has offices in Boston, Palo Alto, and London.

Summit Partners works with outstanding management teams that have self-financed their companies to profitability and market leadership. The firm has nearly 25 years experience of investing in the technology sector, and notable software investments include Blue Ocean Software, McAfee, Help/Systems, Unica, RightNow Technologies, and SafeBoot.

The business of Summit Partners in the UK is regulated by the Financial Services Authority. Summit Partners Limited is registered in England and Wales. The registered number is 4141197, and the registered office is located at 20-22 Bedford Row in London, WC1R 4JS, UK. In the US, Summit Partners operates as an SEC-registered investment advisor. This document is intended solely to provide information regarding Summit Partners' potential financing capabilities for prospective portfolio companies.

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     Joan Miller
     Summit Partners
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