Partner, Serent Capital Introduction Co-Founder of Serent Capital Embraces the entrepreneurial of spirit of working with growing companies to help them achieve their full potential Prior to Serent, Kevin was a partner at McKinsey & Company U of M grad (the other U of M) Kevin Frick Partner, Serent Capital

Who is Serent? $600 million in capital under management across two funds raised in 2008 and 2013 Premier group of institutional and individual investors Our Strategy Focused on driving growth Our Model Centered around business building Our Team Experienced operators and consultants

How do we create value? Search for companies in sectors that we know Invest in companies that serve their customers well Partner with great management teams and companies with strong cultures Take a long-term view Enhance clients’ experiences through product development and client services Bring best practices to bear to help companies scale Keep Clients + Serve Clients in New Ways + Grow # of Clients = Revenue Growth

Why did we invest in Avionté? Serent’s investment criteria… …aligned well with Avionté’! Search for companies in sectors we know Theme: Human capital management technology Invest in companies that serve their customers well and have strong cultures Avionté is very customer-centric and is consistently recognized as one of the best places to work Partner with great management teams John and the team are the most passionate + capable team in the industry Take a long-term view We’ve been investors for 3+ years and expect to be investors for many more Enhance clients’ experiences through product development and client services Since Serent’s investment, Avionté R&D investments have increased by 3.7x and client services investments have increased by 2.3x Bring best practices to bear to help companies scale Utilizing modern development frameworks and scalable business processes

What has happened since Serent invested over 3 years ago? Avionte’s clients have grown 2.6x faster than the staffing industry average over the last three years 99% of existing clients “re-select” Avionté every year 36% per year increase in new clients selecting Avionté over the last three years 40%+ growth in recurring revenue per year for three years

What does the future hold? Help our clients succeed by providing the best software and services in the industry Continue to grow and strengthen our organization Remain focused on the Avionté way!