Austin Ventures Funds Merger Of Benefits Firms

Austin Ventures has helped to fund the merger of two benefits management companies via a funding round announced Wednesday, according to BenefitMall and CompuPay. Dallas-based BenefitMall and Miramar, Florida-based CompuPay both provide payroll processing and employee benefits and payroll services to companies. The new, combined company said it will offer health insurance, benefits, payroll, and related products to small and medium sized business. Financial terms of the funding were not disclosed. The funding also included the participation of HarbourVest Partners. More information »