Shore Capital Partners has acquired ThrivePass, a Denver-based employee benefits technology company, in a deal designed to accelerate the growth of ThrivePass’ platform and expand its reach among employers. Financial terms of the transaction were not disclosed.
Founded by Wade Rosen, Andreas Deptolla, and Charles Shen, ThrivePass provides a technology platform that simplifies employee benefits administration for employers, brokers, and professional employer organizations (PEOs). The company’s platform enables organizations to manage a range of employee benefits, including lifestyle spending accounts, rewards and recognition programs, tuition reimbursement, COBRA administration, and pre-tax benefits through a unified digital experience.
The partnership with Shore Capital will provide ThrivePass with additional capital and healthcare-focused operational expertise to support continued investments in product development, technology, and customer experience as the company scales its platform to serve a growing customer base.
ThrivePass has positioned itself as a modern benefits technology provider focused on improving workforce engagement while reducing administrative complexity for employers. Its configurable platform is designed to help organizations deliver flexible benefits programs while enhancing employee satisfaction and operational efficiency.
For Shore Capital, the acquisition strengthens its portfolio of healthcare and business services investments by adding a rapidly growing employee benefits technology platform. The private equity firm focuses on partnering with lower-middle-market companies with opportunities for both organic growth and industry consolidation.
Harris Williams served as the exclusive financial advisor to ThrivePass on the transaction.
KEY QUOTES:
“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.”
Wade Rosen, Co-Founder of ThrivePass
“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.”
Andreas Deptolla, Co-Founder of ThrivePass
“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.”
Ryan Tacke, CEO of ThrivePass
“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.”
Mike Oleferchik, Principal at Shore Capital
