LLR Partners Makes a Growth Capital Investment in Viventium
LLR Partners has made a growth capital investment in Viventium, a SaaS-based human capital management system focused on the health services sector. ABS Capital and Camden Partners, as well as Viventium’s founders, the Kohn family, remain stockholders in the company.
Viventium has over thirty years of payroll experience and has evolved into a full-suite HCM supplier, delivering exclusive products in payroll and HR, employee onboarding, benefits administration, and ACA compliance. Viventium serves clients in the healthcare industry, including home care, home health, and hospice organizations, as well as skilled nursing, assisted living, and elder care facilities.
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“The LLR team has extensive experience partnering with both human capital management and healthcare technology businesses to help accelerate their growth,” said Dan Neuburger, CEO of Viventium. “We are excited to leverage their expertise as Viventium continues to grow and deliver a highly specialized, remarkable user experience for our home care and skilled nursing clients.”
“Viventium earned its leadership position in payroll and HR by combining innovative, agile technology with exceptional services, purpose-built to manage the complexities of post-acute healthcare,” said Sasank Aleti, Partner at LLR Partners. “ABS Capital, Camden Partners, the Kohn Family, and the Viventium team formed a strong partnership over the last several years, and we look forward to joining them in supporting the Company’s next stage of growth.”
Both agencies and institutions require suppliers that can assist them in finding and retaining top people, as well as providing knowledge as they deal with ever-changing complex federal and individual state pay laws. Clients and workers benefit from Viventium’s smooth API interfaces with workforce management systems and preferred partners in applicant tracking, learning management, and on-demand pay.
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“As evident in post-acute healthcare, the payroll market for small- and mid-sized business is very large and still growing, yet underserved,” said Jennifer Schoen, Vice President at LLR Partners. “Payroll and compliance are highly complex and mission-critical functions for post-acute workforce management. As an all-in-one, flexible solution, Viventium streamlines these and many other core HR processes to help healthcare organizations better engage and retain their essential workforce.”
“The team at LLR has tracked Viventium through consistent and thoughtful interactions over the past several years and we are thrilled to formalize the relationship with their majority investment in the Company. We are pleased this transaction allows us to return substantial capital to our limited partners while making a significant reinvestment alongside LLR to partner in Viventium’s next phase of growth,” said Cal Wheaton, Partner at ABS Capital Partners.
BMO Capital Markets Corp. served as the transaction’s principal financial advisor, with KeyBanc Capital Markets Inc. serving as a co-adviser.
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