Transaction Overview
- Represented Presagia (or the “Company”) on its sale to AbsenceSoft, a portfolio company of Norwest Venture Partners.
- Presagia is a proven provider of technology solutions to help employers more efficiently and cost-effectively manage FMLA, LOA, Disability, and ADA. The Company’s cloud-based software assists organizations in maintaining full compliance with the federal and ever-growing number of state and municipal leave laws, which has become increasingly difficult and complex for organizations of all sizes. Presagia’s software platform was utilized by small-to-medium sized employers across verticals such as healthcare, financial and professional services, manufacturing & utilities, public sector, and more. The Company also served and partnered with insurance brokers.
- AbsenceSoft is a developer of leave management software designed to ensure compliance with federal, state and municipal laws and regulations. The company’s platform offers leave information consolidation, streamlining of the communication flow for requesting and processing leaves, leave eligibility calculations as well as detailed historical tracking, thereby enabling human resources teams to save time, reduce risk and efficiently and cost-effectively stay compliant throughout the leave management process.
Key Observations
- Presagia’s platform was driven by a powerful compliance engine that other providers couldn’t match at the time and was experiencing steady, but accelerating growth driven by a couple of impactful channel partnerships and new customer wins.
- The Company sought a strategic buyer able to offer established infrastructure and industry relationships to accentuate Presagia’s historical growth and better capitalize on the strength of its compliance engine, as well as build on – and extend – its reputation as a market leader.
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