Bessemer Venture Partners Acquires and Expands Executive Search Practice.Business/High Tech Editors MENLO PARK Menlo Park. 1 Residential city (1990 pop. 28,040), San Mateo co., W Calif.; inc. 1874. Electronic equipment and aerospace products are manufactured in the city. Menlo College and a Stanford Univ. research institute are there. 2 Uninc. , Calif.--(BUSINESS WIRE)--July 10, 2000 Bessemer Search Group LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control to Provide Staff Recruiting, Organizational Development and Compensation Advice Exclusively to Bessemer-Funded Companies Bessemer Venture Partners Bessemer Venture Partners is a private venture capital firm with offices in Silicon Valley, New York, Massachusetts, China, and India. It has backed such companies as Ciena, Flarion, Parametric Technologies, Skype, Staples, VeriSign and Veritas. (BVP BVP bovine viral papillomatosis. ), the nation's oldest venture capital firm, today announced that it has acquired the controlling interest controlling interest The ownership of a quantity of outstanding corporate stock sufficient to control the actions of the firm. Controlling interest often involves ownership of significantly less than 51% of a firm's outstanding stock because many owners fail in an executive search practice that will form the kernel of a human resource services firm exclusively for the benefit of BVP's portfolio companies. In conjunction with the acquisition, the Boston-based search firm formerly known as Lexington Partners has changed its name to Bessemer Search Group LLC and will operate as an independent entity out of BVP's Wellesley Hills, Mass. and Menlo Park, Calif. offices. Designed to proactively assist start-ups in the critical areas of talent attraction as well as employee services, Bessemer Search Group will aid BVP's portfolio companies with essential human resource matters including executive search services, recruitment strategies, organizational development and compensation design. Judy Sundue, founder of Bessemer Search Group, leads the HR practice in the Wellesley Hills office. In addition, Bessemer Search Group has hired two new partners, Stephanie Martin and Jill Asher, based in Menlo Park. "In my experience, the partners of Bessemer Search Group are the most effective professionals in the search industry," said David Cowan David Cowan can refer to the following people:
The practice will offer an array of recruitment and human resources The fancy word for "people." The human resources department within an organization, years ago known as the "personnel department," manages the administrative aspects of the employees. services to BVP's portfolio companies. BVP will completely subsidize several essential HR services such as staffing consulting, benefits consulting, and HR infrastructure design. Retained executive search, large-scale staffing, and organizational development are also available on a fee basis. "The acquisition and expansion of Bessemer Search Group stem from the feedback we received directly from our entrepreneurs," commented Rob Soni, managing partner in Wellesley Hills. "They want more from their venture investors than just a reference to a busy search agency or benefits coordinator: they need access to a reliable team of world-class HR and search professionals, and that's what we're delivering." The three initial partners of Bessemer Search Group are seasoned professionals with complementary backgrounds in executive search and human resources consulting. Judy Sundue has a broad record of accomplishment in both executive search as well as human resources, having successfully recruited key executive talent for many Bessemer-funded companies, including Broadsoft, Triton Network Systems, Visto, and Maker Communications. Previously, Judy served as vice-president of HR Worldwide Services for Sybase during the company's high-growth years. As Vice President Human Resources and Corporate Services Activities that combine or consolidate certain enterprise-wide needed support services, provided based on specialized knowledge, best practices, and technology to serve internal (and sometimes external) customers and business partners. at Phoenix Technologies, Judy played a key role in assisting the company in its evolution from early stage start-up through its high growth years as a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. . Judy holds a B.A. from Rowan College and a M.A. from Boston University. Stephanie Martin joins Bessemer from Heidrick and Struggles, where she worked with vice-chairman John Thompson executing CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. and senior-level vice-president searches for venture-backed and Fortune 500 companies, including Cadence Design, Informix, Norwest Venture Partners, Oracle Corporation, R.R. Donnelley and Sun Microsystems. Prior to joining Heidrick, Stephanie worked for the Disney Store division of The Walt Disney Company as a manager of professional placement, recruiting for mid-level finance, marketing, business development, information systems and human resources positions. She also spearheaded the launch of The Disney Store's college recruiting program. Before Disney, Stephanie was HR manager for Cornerstone Research, an economics litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. consulting concern, where she established and grew the human resources function from the ground up, including recruiting, benefit plan design, establishing policies, procedures and compensation, and instituting performance evaluation Performance evaluation The assessment of a manager's results, which involves, first, determining whether the money manager added value by outperforming the established benchmark (performance measurement) and, second, determining how the money manager achieved the calculated return systems. Stephanie holds a M.B.A. from the Harvard Graduate School of Business and a B.A. from Stanford University. Jill Asher comes to Bessemer from Gloss.com, recently acquired by Estee Lauder. Jill's experience spans HR management, staffing, strategic planning, benefits design, compensation design, and executive training, all for start-up companies. As executive director of HR for Gloss.com, and previously as director of human resources for Sentient Networks (acquired by Cisco Systems), Jill provided the human resources leadership to quickly staff and integrate substantial numbers of high-quality employees into these early-stage companies. Jill has also consulted with a variety of early-stage start-up companies, including Infoscape Inc., Google, Inc., and Bitlocker, Inc. Jill holds a B.A. from Rutgers University, Douglass College. About Bessemer Venture Partners Bessemer Venture Partners, with offices in California, Massachusetts and New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , is the leading national, early-stage venture capital firm in communications technology and Internet infrastructure. The firm manages more than a billion dollars of venture funds, carrying on a tradition of hands-on, active venture investing venture investing The acquiring of a stake in a start-up company by a brokerage firm or analyst by obtaining discounted, pre-IPO shares. Critics claim venture investing causes analysts to have a vested interest in seeing a stock appreciate in value and so that has continued since 1911. Many of the most-trusted pioneers of the industrial Internet infrastructure, including VeriSign, Ciena, Cascade Communications, Mindspring, eToys, Keynote Systems, Register.com, Flycast, Tumbleweed tumbleweed, any of several plants, particularly abundant in prairie and steppe regions, that commonly break from their roots at maturity and, drying into a rounded tangle of light, stiff branches, roll before the wind, covering long distances and scattering seed as , e-Steel, Telocity, Verio, HotJobs.com, Veritas and SciQuest, partnered with BVP during their early stages of development. For more information, visit www.bvp.com. (c)2000 Bessemer Venture Partners. All marks are trademarks or registered trademarks of their respective companies. |
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