Viventium, a SaaS-based human capital management solution specializing in the health services sector, today announced a growth capital investment from LLR Partners to support its continued growth. Existing investors, ABS Capital and Camden Partners, as well as Viventium’s founders, the Kohn family, remain shareholders in the business.
With over thirty years of experience in payroll, Viventium has grown into a full-suite HCM provider offering proprietary products in payroll and HR, employee onboarding, benefits administration, and ACA compliance. Viventium provides services to clients in healthcare industries ranging from home care, home health, and hospice agencies to skilled nursing, assisted living, and senior care facilities.
“The LLR team has extensive experience partnering with both human capital management and healthcare technology businesses to help accelerate their growth,” said Dan Neuburger, CEO of Viventium. “We are excited to leverage their expertise as Viventium continues to grow and deliver a highly specialized, remarkable user experience for our home care and skilled nursing clients.”
“Viventium earned its leadership position in payroll and HR by combining innovative, agile technology with exceptional services, purpose-built to manage the complexities of post-acute healthcare,” said Sasank Aleti, Partner at LLR Partners. “ABS Capital, Camden Partners, the Kohn Family, and the Viventium team formed a strong partnership over the last several years, and we look forward to joining them in supporting the Company’s next stage of growth.”
Both agencies and facilities require providers who can help find and retain top talent and provide expertise as they struggle with ever-changing complex federal and individual state pay requirements. Viventium’s seamless API integrations with workforce management solutions and preferred partners in applicant tracking, learning management, and on-demand pay create a frictionless experience for clients and their employees.
“As evident in post-acute healthcare, the payroll market for small- and mid-sized business is very large and still growing, yet underserved,” said Jennifer Schoen, Vice President at LLR Partners. “Payroll and compliance are highly complex and mission-critical functions for post-acute workforce management. As an all-in-one, flexible solution, Viventium streamlines these and many other core HR processes to help healthcare organizations better engage and retain their essential workforce.”
“The team at LLR has tracked Viventium through consistent and thoughtful interactions over the past several years and we are thrilled to formalize the relationship with their majority investment in the Company. We are pleased this transaction allows us to return substantial capital to our limited partners while making a significant reinvestment alongside LLR to partner in Viventium’s next phase of growth,” said Cal Wheaton, Partner at ABS Capital Partners.
BMO Capital Markets Corp. acted as the lead financial advisor to Viventium on the transaction, with KeyBanc Capital Markets Inc. acting as a co-advisor.
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