Paylocity forms new partnership

ARLINGTON HEIGHTS -- Paylocity, a provider of payroll and HR solutions, announced that it has formed a strategic partnership with Adams Street Partners, a private equity firm. Under the partnership, Paylocity will receive a series A capital investment of nearly $10 million from Adams Street Partners, while Jeff Diehl, a partner at Adams Street Partners, will join Paylocity's board of directors. The capital investment will be used to support the company's continued investment in Paylocity WebPay, its industry leading payroll HR and platform, as well as continued geographic expansion.