Claritas Capital has made an investment in CanopyHR Solutions. Financial terms were not announced. Claritas is a PE firm with offices in Nashvill and Irvine, Calif. CanopyHR is a payroll and HR company, also based in Irvine.
CanopyHR Solutions, a progressive Orange County-based payroll and human resources company, shows more signs of strength and growth potential with the latest financial investment by Claritas Capital Fund III, LP.
“We like efficient business models,” says Theresa Sexton, Vice President at Claritas. “We think CanopyHR is a compelling investment opportunity for our firm and for our investors. They have significant experience, and they’re innovative entrepreneurs with appropriate equity and the promise of smart, healthy growth.”
Claritas focuses on development stage investing in companies with strong potential, and then uses its network of resources to add value and keep that momentum. CanopyHR caught the investor’s attention with its solid management team and attractive financial structure, along with the endorsement of fellow CanopyHR investor Robert G. Allison, Founder and CEO of Innovate Partners and longtime advisor to Claritas.
Industry observers typically note CanopyHR’s tremendous opportunities for growth, due in large part to the trend toward outsourcing in conjunction with the company’s innovative integration of technology. Combined with CanopyHR’s reputation for high-quality service, the upward growth trend of the company is likely to continue.
“We believe CanopyHR is poised to take a leadership position in the marketplace,” says Allison. “The additional resources from Claritas Capital will bolster the company’s ability to execute its plans and take better advantage of its integrated solutions and efficient business model on a larger scale.”
Claritas has a long track record involving HR technology solutions, and they intend to participate in CanopyHR’s growth as the thriving HR firm acquires additional clients and continues to make its mark in a rapidly changing industry.
About Claritas Capital
Claritas Capital, with offices in Nashville and Irvine, is a private equity firm managing both debt and equity funds. The firm’s six investment professionals have over 80 years of collective experience in private equity, mezzanine debt, investment banking, accounting and legal services. Since its founding in 2002, Claritas Capital has participated or led the financing of over 30 privately held equity and debt investments. For more information, please visit Claritas Capital’s website at www.claritascapital.com.
About CanopyHR Solutions
Based in Irvine, Calif., CanopyHR Solutions is a progressive payroll and human resources company dedicated to helping its customers maximize the power of their people, increase business efficiencies, lower costs and focus on what they do best. Canopy HR Solutions first disrupted the status quo of the payroll and human resources industry in 2008 with a customer-first business model that allowed its customers to select only those service modules they need. Their innovative style and superior, consultative approach to service has allowed the agile company to thrive by arming customers with the tools and technology to support their payroll, benefits and HR administrative needs from recruitment to retirement at an unbeatable price point. For more information, visit www.canopyhr.com.