We’re thrilled announce a new strategic investment from LLR Partners. LLR’s investment will help further product innovation, bolster sales and customer support, and support the continued organizational build out to better serve the our growing network of insurance customers.
“Our mission is to increase the speed and efficiency of our customer’s AR/AP processes and make insurance payments fast, easy and secure,” said Mark Engels, CEO of ePayPolicy. “With this investment, we will continue to build the products our customers need to automate all of their payment-related workflows.”
“Both LLR and our existing investors, Serent Capital, have proven experience supporting customer-centric technology companies with big ambitions,” Engels added. “It’s a great fit.”
LLR’s investment in ePayPolicy continues the firm’s 26-year history of investing in vertically focused integrated software and payments businesses. “Insurance is a large ($2T+) and complex ecosystem undergoing a digital transformation driven by policyholders requiring more seamless payment experiences and insurance companies needing to more efficiently manage operations,” said Connor Crump, Vice President at LLR Partners. “ePayPolicy has established itself as a leading AR/AP solution, purpose-built for the insurance industry.”
Ryan Goldenberg, Partner at LLR Partners, added, “We’re thrilled to partner with Serent, Mark and the entire ePayPolicy team. Together, we will continue to invest in technology automation and product growth to support ePayPolicy’s customer’s needs and help solidify the company as the leading AR/AP provider in the insurance ecosystem.”
Serent Capital originally invested in ePayPolicy in 2019 and will remain an active partner and investor. “It has been a privilege to support Mark and his team over the last six years,” said Kevin Frick, Partner at Serent Capital. “We are excited to continue alongside LLR in this next chapter of growth.”
ePayPolicy was advised by Raymond James and Choate, Hall and Stewart and LLR was advised by William Blair and Company and Goodwin Procter LLP.
About LLR Partners
LLR Partners is a lower middle market private equity firm investing in technology and healthcare businesses. We collaborate with our portfolio companies to define high-impact growth initiatives, turn them into action and help create long-term value. Founded in 1999 and with more than $7 billion raised across seven funds, LLR is a flexible provider of equity capital for growth, recapitalization and buyouts.
About ePayPolicy
ePayPolicy offers easier payment tools, built just for insurance. ePayPolicy’s products bring insurance payments up to speed for agencies, carriers, MGAs and PFCs, with secure online payment pages, automated check processing, payables reconciliation and more. 7,500+ insurance companies trust ePayPolicy and their expert, live support team to handle their payments every day. Learn more: ePayPolicy.com.
