Greenshades Blog


SFW Capital Partners Makes a Strategic Investment in Greenshades Software

Posted on March 8th, 2019

RYE, NY, March 7, 2019 – SFW Capital Partners (“SFW”), a specialized private equity firm that invests in leading Information, Software, Industrial and Healthcare Technology companies, today announced that it has made a strategic investment in Greenshades Software (“Greenshades”), in partnership with Greenshades’ co-founders, David Rosas and Matt Kane. SFW’s principals have supported a number of highly regarded companies in the Information and Software sector, including DaySmart Software, Swiftpage, Gerson Lehrman Group, Devada, AGDATA, MD Buyline, IAG Research, and Telephia. With SFW’s strategic support and resources, Greenshades plans to make significant investments to expand its product portfolio, enhance its sales and marketing capabilities, access new markets, and meaningfully accelerate its growth and development.

Greenshades, based in Jacksonville, FL, is a leading provider of payroll tax and human capital management (“HCM”) information and software solutions with deep integrations into leading mid-market ERP platforms such as the Microsoft Dynamics portfolio of products, amongst many others. Greenshades’ software enables mid-sized businesses to manage their payroll processes internally, resulting in increased efficiencies, cost-savings and better visibility over critical resources in comparison to legacy outsourced approaches. Greenshades provides its customers confidence that complex payroll taxes are filed with various federal, state, and local jurisdictions on time, using the right forms, and with the latest government mandated information. In addition, Greenshades has developed a portfolio of cloud-based HCM solutions that drive a range of critical employee management and engagement workflows (compensation, time tracking, benefits, on-boarding and more) for its customers. Greenshades’ customers include more than 4,000 mid-sized businesses that employ approximately 3 million people across the United States.

“Greenshades exhibits the key characteristics that we look for in our information and software investments: compelling value proposition, large addressable market, deep customer relationships, and a potential to unlock meaningful growth through a range of strategic and operational initiatives,” says Omair Sarwar, a Partner at SFW who will be joining Greenshades’ Board of Directors. “We are excited to partner with David, Matt, and the Greenshades team to continue building the business and accelerating its growth.”

“SFW brings more than just capital to Greenshades and we are looking forward to leveraging their expertise and resources to help accelerate our product roadmap and launch new sales and marketing initiatives – enabling our growth and the growth of our customers,” said David Rosas, CEO of Greenshades. “SFW has the industry experience and operational expertise to help us accelerate our growth and drive leadership in the payroll and HCM markets.”

“We are very pleased to be partnering with SFW Capital,” said Matt Kane, co-founder of Greenshades. “We are very proud of our current and historical accomplishments here at Greenshades, and this significant investment serves as a strong endorsement for our business model, growth strategy and future prospects.”

About Greenshades Software
Greenshades Software, founded in Jacksonville in 2002, is a leading provider of payroll tax and human capital management (“HCM”) information and software solutions for mid-sized businesses with deep integrations into leading middle market ERP platforms. Greenshades’ software enables its customers to manage their payroll processes internally ensuring tax compliance and reducing the friction inherent in these complex processes. Greenshades also provides a suite of Human Capital Management solutions that drive critical employee engagement and management workflows. Greenshades’ customers include more than 4,000 mid-sized businesses that employ approximately 3 million people across the United States. For more information, visit www.greenshades.com.

About SFW Capital Partners, LP
SFW Capital Partners is a specialized private equity firm that invests in leading Information, Software, Industrial and Healthcare Technology companies, where our 25+ years of investing in and experience with relevant business models, technologies, competitive dynamics and service requirements gives us confidence in our ability to support management teams in growing their companies and building value. SFW invests in companies that provide critical tools to help other businesses make better decisions and/or become more efficient. These companies, which include providers of hardware, software, data and information, critical outsourced services, and consumables, provide a high return on investment to their customers and can serve a wide variety of end-markets. For more information, visit www.sfwcap.com.