Tuesday, November 21, 2017

BenefitMall, Backed by Austin Ventures, Acquired By The Carlyle Group

Dallas-based BenefitMall, the provider of employee benefits and payroll services which is backed by Austin Ventures, has been acquired by The Carlyle Group. Financial details of the acquisition were not announced. The Carlyle Group said it believes thatcapital investment, an expanded salesforce, and its expertise it can allow BenefitMall to take a "significant" market share. BenefitMall was founded in 1979, and serves 200,000 small and medium-sized businesses, according to the companies. The funding for the investment comes from Carlyle's $1 billion Carlyle Global Financial Services Partners II fund.