Serent Capital Invests in Apex Payroll Software

Serent Capital Invests in Apex Payroll Software

October 10, 2016

San Francisco, CA – October 20, 2016 — Serent Capital, a leading San Francisco-based private equity firm focused on investing in high-growth technology and services businesses, has made an investment in Apex Payroll Software, a premier provider of cloud-based Human Capital Management technology. Serent will be partnering with founders Stephen Gregg, Cathy Gregg, and Marty Hamby in the next stage of Apex’s growth.

Apex provides Human Capital Management software to payroll service bureaus to empower them to better serve the HR needs of small and medium businesses. Apex’s suite of products and services allows service bureaus to process payroll, ensure tax compliance, workforce management and manage HR functions on behalf of their clients. The company’s cutting-edge cloud-based technology allows its customers to effectively compete feature-for-feature with larger established firms while dramatically improving their workforce productivity.

“Apex weighed the decision to partner with Serent very carefully and placed a high degree of importance on finding a firm that shared our values,” said Stephen Gregg, Founder and CEO of Apex. “We were impressed with Serent’s knowledge of our industry, and their experience working with fast-growing software businesses to help them thrive and scale. With Serent’s partnership, we will be able to invest more into our product and services so that we can provide an even better customer experience.”

Serent’s investment in Apex represents its fifth investment in the Human Resources Technology space in the last two years —Avionté (2014), ICon Professional Services (2015), Synergy Services (2015, combined with ICon to form TalentWave), and Humanis (2016, combined with Avionte).

“Investing in HR Technology providers continues to be a focus area for us, and we are thrilled that Steve and his team selected Serent as Apex’s strategic capital partner,” said Kevin Frick, Partner and Co-Founder at Serent Capital. He continued, “Apex has built a great business, with a strong and loyal customer base. We are excited about the opportunity to work with the executive team to build on the remarkable success that they have had, with the goal of providing an ever-better experience to our existing and future customers.”

About Apex Payroll Software

Apex Payroll Software is a market leader in cloud-based payroll and HR technology. Over 220 payroll service firms nationally use Apex’s technology as the core of their business. Apex’s comprehensive suite of products and services includes payroll, payroll tax, human resources, time and attendance, workers’ compensation, payroll debit cards and other business management tools normally reserved for large enterprises. Apex’s cutting-edge cloud-based technology allows its customers to compete effectively feature-for -feature with larger established firms, while dramatically improving their workforce productivity.

About Serent Capital

Serent Capital invests in growing businesses that have developed compelling solutions that address their customers’ needs. As those businesses grow and evolve, the opportunities and challenges that they face evolve with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating those challenges through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its experience and capital to bear, Serent helps growing businesses thrive.

Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. Principals at Serent Capital have firsthand experience at capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. Learn more about our portfolio companies.

Disclaimer:

Nothing presented herein is intended to constitute investment advice, nor sales material, and no investment decision should be made based on any information provided herein. Information provided reflects Serent's views as of a particular time and are subject to change without notice. Any forward looking statements or forecasts are based on assumptions and actual results are expected to vary from any such statements or forecasts. While Serent has used reasonable efforts to obtain information from reliable sources, we make no representations or warranties as to the accuracy, reliability, or completeness of third party information presented herein. Past performance is not indicative of future results. There can be no guarantee that any investment strategy employed by Serent will be successful. A full list of portfolio holdings is available on Serent's website.