Bow River has recapitalized AbsenceSoft, a provider of software solutions for employers to manage FMLA, disability, ADA and other forms of absence leave. No financial terms were disclosed. Cascadia Capital was financial adviser to AbsenceSoft on the transaction.
DENVER (PRWEB) APRIL 23, 2019
Bow River Capital 2019 Software Growth Equity Fund (“Bow River”) today announced that it has completed a majority recapitalization of AbsenceSoft LLC (“AbsenceSoft”), a proven provider of software solutions to help employers more efficiently and cost-effectively manage FMLA, disability, ADA, and other forms of absence leave. AbsenceSoft’s current management team will continue to lead the organization. The investment from Bow River will enable the company to accelerate growth, rapidly deliver on innovations within its product suite, and scale across every dimension.
Founded in 2013, AbsenceSoft is a trusted provider of cloud based, secure, mobile friendly leave management software solutions that not only provide compliance support for FMLA and all state leave laws, but also provides workflow management and analytics in a simple and effective way that enables rapid adoption across all types of organizations.
Matt Brady, CEO of AbsenceSoft states, “We are thrilled to be working with Bow River’s Software Growth Equity team as partners to support our vision and strategy of building-out the industry’s best absence management solution and company.” Brady further states, “After evaluating multiple investment firms and alternatives with our investment bankers, we felt supremely confident in our decision based on the Bow River team’s deep domain SaaS competencies and track record scaling proven market winners.”
“Compliance, operating efficiencies, and proactive decision support are critical elements across every organization’s HR infrastructure,” said John Raeder, Managing Director and Head of Software Investments for Bow River Capital. He further states, “AbsenceSoft’s cloud-based platform to comprehensively manage FMLA and all leaves of absence is critically important for Global 2000 companies managing these complexities.”
Holland & Hart LLP served as legal counsel to Bow River on the transaction.
Cascadia Capital was the exclusive financial advisor to AbsenceSoft while Koley Jensen P.C., L.L.O served as legal counsel.
About Bow River Capital
Founded in 2003, Bow River Capital is a private alternative asset management company based in Denver, Colorado, with Buyout, Real Estate, Software Growth Equity and Energy Fund platforms. The Bow River Capital platforms focus on the lower middle market across a geographic area referred to as Bow River Capital Rodeo Region, which encompasses the Rocky Mountains and surrounding states. Collectively, Bow River Capital has deployed capital into diverse industries, asset classes and across the capital structure.
AbsenceSoft has one simple goal – to create the best-in-class software for companies to manage FMLA and other leaves of absence, easily, efficiently, compliantly, and cost effectively. The Company’s proprietary software, AbsenceTracker, provides organizations with the tools to improve productivity, increase compliance and reduce costs. Follow AbsenceSoft on Twitter and LinkedIn and at http://www.absencesoft.com.