Our firm’s track record since inception in 2005 demonstrates our forward-thinking approach and active commitment to identifying and investing in opportunities that highly contribute to the economy in North Texas.
Dallas, Texas (PRWEB) August 09, 2017
Teakwood Capital, a Dallas, Texas private equity firm, today announced it has been named a finalist in the Investment Catalyst category as part of the Tech Titans Awards for the second year in a row. The 17th annual awards program recognizes outstanding technology companies and individuals in North Texas who have made significant contributions to their industries over the past year.
In early 2016, Teakwood Capital saw a potentially disruptive opportunity for the payroll industry in UK-based iiPay. In February 2016, it 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 and payrolls in over 120 countries.
“Our firm’s track record since inception in 2005 demonstrates our forward-thinking approach and active commitment to identifying and investing in opportunities that highly contribute to the economy in North Texas,” said Shawn Kelly, Managing Director at Teakwood Capital. “We are proud of the dramatic change iiPay is bringing to the international payroll industry, as well as the impact we’ve made in the local technology community since moving iiPay’s headquarters from the UK to Dallas.”
Since Teakwood’s investment, iiPay has had a very aggressive hiring and staffing plan. In addition to already having hired a chief operating officer to complement the CEO, iiPay grew from 43 to 74 employees in 2016. The company also experienced 83 percent total revenue growth and 97 percent APR growth in 2016. Revenue is expected to grow another 50+ percent in 2017. Large customer wins include a global semi-conductor manufacturer, global beverage company, global financial services firm, as well as several global software firms.
The Investment Catalyst Award recognizes a significant investment transaction occurring since January 2016 that impacts and delivers significant long-term economic prosperity and sustainable economic results for the D/FW Metroplex and improves the technology innovation investment climate of the region.
Winners will be revealed at the Tech Titans Awards Gala on August 25 at the Renaissance Dallas at Plano Legacy West.
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.
About Tech Titans
Tech Titans includes a diverse group of technology leaders from start-ups to Fortune 500 companies from North Texas who collaborate, share and inspire creative thinking that fuels tomorrow’s innovations. As part of its goals, Tech Titans is active in:
- Cultivating a technology community of companies, entrepreneurs, investors and students
- Growing future tech leaders with its talent and workforce development initiative
- Advocating technology’s advancement in governmental arenas
- Connecting people and inspiring innovative ideas through its special interest forums and annual Awards Gala
Tech Titans is the largest technology trade association in Texas, representing individuals and more than a quarter million employees through 300 member companies. More information about Tech Titans can be found at techtitans.org.