Our firm’s track record since inception in 2005 demonstrates our forward-thinking approach and active commitment to identifying and investing in opportunities that highly contribute to the economy in North Texas.
Dallas, Texas (PRWEB)
August 09, 2017
Teakwood Capital, a Dallas, Texas private equity firm, today announced it has been named a finalist in the Investment Catalyst category as part of the Tech Titans Awards for the second year in a row. The 17th annual awards program recognizes outstanding technology companies and individuals in North Texas who have made significant contributions to their industries over the past year.
In early 2016, Teakwood Capital saw a potentially disruptive opportunity for the payroll industry in UK-based iiPay. In February 2016, it made a growth capital investment in the cloud-based payroll services company to further enhance operational infrastructure related to iiPay’s global technology platform that serves more than 250 clients and payrolls in over 120 countries.
“Our firm’s track record since inception in 2005 demonstrates our forward-thinking approach and active commitment to identifying and investing in opportunities that highly contribute to the economy in North Texas,” said Shawn Kelly, Managing Director at Teakwood Capital. “We are proud of the dramatic change iiPay is bringing to the international payroll industry, as well as the impact we’ve made in the local technology community since moving iiPay’s headquarters from the UK to Dallas.”
Since Teakwood’s investment, iiPay has had a very aggressive hiring and staffing plan. In addition to already having hired a chief operating officer to complement the CEO, iiPay grew from 43 to 74 employees in 2016. The company also experienced 83 percent total revenue growth and 97 percent APR growth in 2016. Revenue is expected to grow another 50+ percent in 2017. Large customer wins include a global semi-conductor manufacturer, global beverage company, global financial services firm, as well as several global software firms.
The Investment Catalyst Award recognizes a significant investment transaction occurring since January 2016 that impacts and delivers significant long-term economic prosperity and sustainable economic results for the D/FW Metroplex and…