Specialty Program Group has acquired HCM Unlocked, expanding its employee benefits and workforce services platform with additional human capital management technology and managed services capabilities.
Founded in 2018, HCM Unlocked provides managed services and consulting across payroll, tax, human resources, benefits administration, leave of absence management, compliance and HCM technology.
The company has more than 200 employees and serves mid-market and enterprise customers.
HCM Unlocked supports customers across the HCM lifecycle, including vendor selection, technology implementation, optimization and ongoing management of payroll, tax, HR and benefits operations.
A central component of its platform is DELTA, a proprietary AI-enabled data validation technology designed to support accuracy across payroll, time and attendance, HR and benefits systems.
DELTA allows HCM Unlocked to work across multi-vendor technology stacks rather than requiring clients to use a specific HCM software provider.
The acquisition extends SPG’s capabilities beyond its broader specialty insurance distribution, underwriting, consulting and employee benefits businesses.
HCM Unlocked will continue operating under its existing name and will remain led by CEO John Wallace.
KEY QUOTES:
“HCM Unlocked isn’t a business built around a theory – John and his team have lived the problems their clients are trying to solve. The future of employee benefits and workforce services is increasingly shaped by the intersection of specialized expertise, technology and data. Bringing HCM Unlocked into SPG broadens our platform in each of those areas and creates significant opportunities for continued growth. We’re excited to have John and his team join us.”
Chris Treanor, President and CEO of Specialty Program Group
“Our clients don’t experience payroll, HR, benefits, compliance and technology as separate challenges, they are all part of running their business. We built HCM Unlocked to take ownership of that work by combining experienced people with technology that supports how the work gets done. Joining SPG gives us additional resources to continue developing the business while staying focused on the clients and teams that got us here. We’re looking forward to this next chapter.”
John Wallace, CEO of HCM Unlocked
