The global payroll market is very fragmented and inefficient. iiPay’s world class, proprietary technology reduces the number of required vendors, streamlines the process, and improves accuracy and timeliness.
Dallas, Texas (PRWEB) March 07, 2017
In early 2016, Teakwood Capital saw a potentially disruptive opportunity for the payroll industry, and in February 2016 made a growth capital investment in the cloud-based payroll services company to further enhance operational infrastructure related to iiPay’s global technology platform that serves more than 250 clients in over 120 countries.
“The global payroll market is very fragmented and inefficient,” said Shawn Kelly, Managing Director at Teakwood Capital. “iiPay’s world class, proprietary technology reduces the number of required vendors, streamlines the process, and improves accuracy and timeliness. It also allows clients to focus on what’s most important – serving their customers.”
In 2016, iiPay moved its headquarters from the United Kingdom to Dallas given the large concentration of multi-national companies in the U.S., as well as the deep resource pool which has already afforded the company the opportunity to double its headcount.
Many leading global brands, including TripAdvisor, Avid and Capsugel, rely on iiPay for its reliable, efficient and cost-effective payroll solutions.
Winners in this year’s awards program will be announced at a private awards event in late May and covered in the May 2017 issue of D CEO.
About Teakwood Capital
Teakwood Capital is a Dallas, Texas private equity firm. It invests in profitable technology-focused companies typically located in Texas and neighboring states with revenues below $25 million that are interested in accelerating growth with expansion capital and top-tier talent. The firm has deep, hands-on operating experience which is complemented by an Executive Partner team of successful ex-CXOs working closely with portfolio company management teams to create value through organic revenue growth, operational improvements, and sustainable intellectual property. For more information, visit teakwoodcapital.com.