Paychex acquires Flock
Flock, the benefits enrollment and administration, onboarding, and HRIS provider that is backed by The Hartford, is being acquired by Paychex.
Founded in 2015, Flock raised a $3.5 million Series A round led by The Hartford and the companies also announced a partnership that will provide SMEs and their insurance brokers access to the insurer’s employee benefits plans.
There will be no disruption to Flock’s service operations or customer relationships as a result of the acquisition. The organization will continue to operate as it does today, and all Flock employees will join Paychex. Terms of the acquisition were not disclosed.
“Paychex provides HR services to more than 1.7 million worksite employees and is among the 30 largest insurance agencies in the U.S. The combination of Paychex’s full-service HR and benefits capabilities and Flock’s innovative platform will position us for continued growth and expansion in the marketplace.” – Martin Mucci, Paychex president and CEO.
“Flock launched a little over six years ago with the goal of helping employers efficiently manage their workforce and for employees to better understand and enroll in their health insurance and benefits. Building something significant can be challenging and Flock has been fortunate to have the support of our incredible customers, our highly talented employees, partners, and investors. The customer-first mindset at Paychex aligns perfectly with Flock’s culture and ethics, and together, we will work even harder to deliver an industry leading experience for employers and their employees.” – Raj Singh, Flock CEO.