Shore Capital Acquires ThrivePass to Accelerate Growth in Employee Benefits Technology
Partnership will support product innovation, market expansion, and technology investment
ThrivePass, a comprehensive technology platform that streamlines employee benefits administration for employers, announced it has partnered with Shore Capital Partners (“Shore” or “Shore Capital”), a private equity firm focused on the healthcare industry. Financial terms of the transaction were not disclosed.
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Founded by Wade Rosen, Andreas Deptolla, and Charles Shen, ThrivePass has built a modern benefits platform that simplifies how employers design, deliver, and manage employee benefits programs. The partnership with Shore Capital will support continued investment in ThrivePass’ product, technology, and client experience as the company scales to serve a growing base of employers and members.
“We built ThrivePass to make employee benefits work better – for employers, for brokers, and most importantly for the people who use them every day,” said Wade Rosen, co-founder of ThrivePass. “Partnering with Shore Capital sets ThrivePass up with the resources and healthcare expertise to accelerate that mission and bring our platform to many more organizations.”
“Shore shares our belief that the benefits experience is overdue for innovation,” said Andreas Deptolla, co-founder of ThrivePass. “We are proud of the innovation ThrivePass has delivered and continue to be excited about what the team will build in this next chapter. We are confident that ThrivePass’ clients and partners will benefit from the investment and focus this partnership brings.”
“Partnering with Shore Capital marks an exciting new chapter for ThrivePass,” said Ryan Tacke, CEO of ThrivePass. “Together, we have a unique opportunity to accelerate innovation and further develop truly disruptive solutions that redefine how employee benefits are designed, delivered, and experienced.”
“ThrivePass has built something special – a differentiated technology platform, innovative products, and a team with deep conviction about where this industry needs to go,” said Mike Oleferchik, Principal at Shore Capital. “We are proud to partner with the entire ThrivePass team, and we look forward to supporting their continued growth.”
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