Private investment firm VSS’ portfolio company TCC, a Los Angeles-based technology and services provider to corporate human resources and tax departments, has acquired uConfirm, an independent provider of income and employment verification services.
Financial terms of the transaction have not been disclosed.
uConfirm provides employee verification data to third parties such as lenders, pre-employment screening providers, property managers, social service agencies and other organisations. The company provides a secure platform that reduces the burden on employers and employees alike.
“uConfirm’s advanced data platform is a complementary fit with TCC’s comprehensive tax credit and incentive solutions business,” says Jeffrey Stevenson, Managing Partner, VSS. “This acquisition reflects VSS’ ability to partner with management teams and identify growth opportunities, both organically and through strategic acquisitions, that improve the growth trajectory of their businesses.”
The combination of TCC and uConfirm is highly value added for both companies’ corporate clients, which are increasingly seeking to manage essential employment and income authentication tasks in an efficient, paperless and streamlined manner. Clients will benefit from a single data feed for multiple solutions.
“Enterprises operate in an increasingly competitive market when it comes to attracting and retaining employees. TCC remains focused on providing best in class solutions that deliver performance while maintaining the highest standards of the candidate and employee experience, which is why an increasing number of large employers having been switching to TCC. The people at uConfirm share the same vision.” said Brandon Edwards, Chief Executive Officer of TCC. “We’re pleased that VSS’ long experience investing in and building tech-enabled businesses enabled us to execute on a strategic transaction that will be highly additive to TCC as we pursue the next chapter of our growth.”
TCC previously acquired Incentives Advisors, a Phoenix-based nationwide government incentives technology and services provider in 2013 to expand its capabilities in the Work Opportunity Tax Credit space.
VSS has extensive experience investing in and growing tech-enabled business services companies, having previously invested in IT-Ernity, a Zwolle, Netherlands-based provider of business critical managed and shared hosting services; Navtech, a Waterloo, Canada-based provider of integrated flight operations solutions to commercial airlines, cargo carriers and general aviation companies; and Connexion Point, a Salt Lake City, Utah-based provider of technology-enabled business services for the health insurance market; among others.
