ThrivePass, a comprehensive technology platform that streamlines employee benefits administration for employers, today announced it has partnered with Shore Capital Partners ("Shore" or "Shore Capital"), a private equity firm focused on the healthcare industry. Founded by Wade Rosen, Andreas Deptolla, and Charles Shen, ThrivePass has built a modern benefits platform that simplifies how employers design, deliver, and manage employee benefits programs. The partnership with Shore Capital will support continued investment in ThrivePass' product, technology, and client experience as the company scales to serve a growing base of employers and members.
Shore Capital acquires ThrivePass to accelerate employee benefits technology growth.
ThrivePass supports lifestyle spending accounts, rewards, tuition reimbursement, COBRA, and pre-tax benefits.
Partners with brokers, PEOs, and employers for modern benefits delivery.
Harris Williams served as exclusive financial advisor to ThrivePass.
Shore Capital has ~$17B in assets under management.
ThrivePass is headquartered in Denver, Colorado.
Wade Rosen, co-founder of ThrivePass, stated: "We built ThrivePass to make employee benefits work better - for employers, for brokers, and most importantly for the people who use them every day. Partnering with Shore Capital sets ThrivePass up with the resources and healthcare expertise to accelerate that mission and bring our platform to many more organizations."
Andreas Deptolla, co-founder of ThrivePass, added: "Shore shares our belief that the benefits experience is overdue for innovation. We are proud of the innovation ThrivePass has delivered and continue to be excited about what the team will build in this next chapter. We are confident that ThrivePass' clients and partners will benefit from the investment and focus this partnership brings."
Ryan Tacke, CEO of ThrivePass, stated: "Partnering with Shore Capital marks an exciting new chapter for ThrivePass. Together, we have a unique opportunity to accelerate innovation and further develop truly disruptive solutions that redefine how employee benefits are designed, delivered, and experienced."
Mike Oleferchik, Principal at Shore Capital, added: "ThrivePass has built something special - a differentiated technology platform, innovative products, and a team with deep conviction about where this industry needs to go. We are proud to partner with the entire ThrivePass team, and we look forward to supporting their continued growth."
Through its configurable platform and service model, ThrivePass supports programs across lifestyle spending accounts, rewards and recognition, tuition reimbursement, COBRA administration, and pre-tax benefits, enabling organizations to simplify administration while enhancing the employee experience. ThrivePass serves a diverse set of organizations across industries, from high-growth companies to enterprise clients.
About ThrivePass
ThrivePass, a Denver-based benefits technology company, partners with brokers, PEOs and employers to deliver modern, flexible employee benefits that improve engagement, retention, and overall workforce well-being. Through its configurable platform and service model, ThrivePass supports programs across lifestyle spending accounts, rewards and recognition, tuition reimbursement, COBRA administration, and pre-tax benefits. ThrivePass serves a diverse set of organizations across industries, from high-growth companies to enterprise clients.
About Shore Capital Partners
Shore Capital, a Chicago-based private equity firm with an office in Nashville, is an investor in lower-middle market companies in the Healthcare, Food and Beverage, Business Services, Industrial, and Real Estate industries. Shore has approximately $17 billion of assets under management and in additional investment platforms to which it provides business and operational consulting services.
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