Veronis Suhler Stevenson has acquired a minority stake in New York-based GreenSlate, a cloud-based accounting and payroll software platform for the entertainment industry. No financial terms were disclosed.
New York – October 22, 2018 – Veronis Suhler Stevenson (“VSS”), a private investment firm, announced today a minority investment in GreenSlate, a leading cloud-based accounting and payroll software platform for the entertainment industry.
GreenSlate was founded in 2004 by CEO John Finn and is headquartered in New York with offices in Delhi, Los Angeles, Atlanta, New Orleans, and Albuquerque. The company supports many of the world’s leading creators and production houses that produce content for Netflix, Amazon, Facebook, Paramount, Sony, HBO, Discovery, Red Arrow Studios, and others. GreenSlate’s software solutions and services span payroll management, production accounting, residual payments, benefits administration, insurance, and tax credit services.
“We see multiple opportunities to further optimize the business of content production and deliver greater efficiency to our clients. In the years ahead, we will continue to see growth from our geographic expansion to expanding our product set to continuing to support some of the most innovative, highest growth production companies in our industry. VSS’s investment and experience in our industry will provide additional resources to accelerate our commitment to research and development and fully realize the next chapter of our company’s growth,” said John Finn, CEO of GreenSlate.
Trent Hickman, VSS Managing Director added, “We are very excited by GreenSlate’s vision and their capacity to drive change, as they have shown with their impressive growth trajectory. We look forward to working together to expand both their service offerings and geographic presence to the benefit of their rapidly growing client base.”
“GreenSlate is led by a highly driven and forward-looking management team that consistently delivers on the Company’s aggressive growth plans. The Company’s transformative technology and compelling prospects make it an excellent fit for Structured Capital III.” commented Jeffrey Stevenson, VSS Managing Partner.
VSS has significant prior experience investing in Human Capital Management companies and was previously invested in Cast & Crew, a payroll processing and related services company for the entertainment industry from 2013 to 2015. Other current and successfully exited investments include: TMP Worldwide, a technology-enabled talent acquisition company; Tax Credit Co., a tax incentive consulting, administration, and technology company identifying valuable federal and state tax credits; System One, a staffing solutions company for the nuclear energy, engineering, IT, scientific, and commercial sectors; Thomsons Online Benefits, a SaaS-based benefits and pension information and services, workflow, and reporting solution company; and SHL, a pre-employment testing and assessment solutions company.
Also engaged in the transaction were advisors from Bentley Securities and legal teams from Becker, Glynn, Muffly, Chassin, & Hossinski, Ropes & Gray, and Ravi Ivan Sharma, P.C.