Elkhart-based Electronic Commerce Inc. has landed a $40 million investment from a Charlotte growth equity firm. ECI says it will use the funding from Frontier Capital to enhance its cloud-based human capital management platform, expand sales efforts and explore potential acquisitions. Last year, Electronic Commerce Inc. announced plans to add at least 20 new workers. The company said client growth led to the move. ECI's Empower software platform is designed to help companies and organizations manage “the employee lifecycle.”
Chief Executive Officer Jeff Lacy says the Frontier investment will “help us better meet the increasing demand we're experiencing.” Frontier is a growth equity firm focusing on software and technology-centered business services companies.