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Paychex acquires San Francisco benefits firm
Paychex acquires San Francisco benefits firm
Paychex Inc. has acquired Flock, a benefits enrollment and administration, onboarding and human resources information system provider in San Francisco. Financial terms of the acquisition were not disclosed.
Paychex, a leading provider of integrated human capital management software solutions, will gain a state-of-the-art benefits administration software that is aligned with the company’s commitment to driving innovation and delivering a suite of digital services, Paychex officials said in a statement.
“Paychex provides HR services to more than 1.7 million worksite employees and is among the 30 largest insurance agencies in the U.S.,” said Paychex President and CEO Martin Mucci. “The combination of Paychex’s full-service HR and benefits capabilities and Flock’s innovative platform will position us for continued growth and expansion in the marketplace.”
Human resources leaders are looking for solutions that allow them to increase efficiency and automate tasks, according to Paychex proprietary research. Officials said the HR software available through Paychex and the benefits administration functionality of Flock will provide a “powerful” solution that will help employers drive efficiency and adapt to the myriad HR challenges brought about by the pandemic.
“Flock launched a little over six years ago with the goal of helping employers efficiently manage their workforce and for employees to better understand and enroll in their health insurance and benefits. Building something significant can be challenging and Flock has been fortunate to have the support of our incredible customers, our highly talented employees, partners and investors, said Flock CEO Raj Singh. “The customer-first mindset at Paychex aligns perfectly with Flock’s culture and ethics, and together we will work even harder to deliver an industry-leading experience for employers and their employees.”
Officials noted that Flock will continue to operate as it has and all Flock employees will join Paychex.
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