NexPhase Capital LP, an operationally-focused private equity firm, has invested in Selerix Systems Inc., a provider of cloud-based benefits administration and employee engagement software.

Lyle Griffin, co-founder and president of Selerix, said, “Over the last two decades, we have grown Selerix into an industry-trusted, respected brand, and we’re looking forward to entering our next chapter of growth together with NexPhase. Our extraordinary team has delivered on our mission with enthusiasm, providing innovative services and solutions that meet the evolving needs of our clients and our industry. NexPhase is an ideal partner that brings a wealth of sector knowledge, operational expertise, additional resources and a collaborative approach as we continue to scale our business and execute our shared vision to serve our clients in exciting new ways. We are thrilled to partner with NexPhase and continue driving meaningful value to our entire ecosystem of stakeholders.”

Joel Killion, partner at NexPhase Capital, said, “The benefits industry continues to quickly evolve, creating tremendous areas of opportunity for the integration of technology and service to meet modern HR demands. We are excited about Selerix’s numerous growth prospects, and this investment underscores our confidence both in Selerix’s highly scalable technology platform as well as the growing market for its industry-trusted software. At NexPhase, we are committed to nurturing the exceptional company culture and brand that has made Selerix a trusted name in the benefits industry. We look forward to working closely with Selerix’s leadership team to enhance and execute the company’s strategy to grow through continued product innovation and expansion into adjacent functional areas that will enable Selerix to better serve its constituents.”

The NexPhase team has extensive experience investing in software companies. Current and previous investments include DealerOn, KnowFully Learning Group, Brandt Information Services, Inside Real Estate, Flexible Architecture & Simplified Technology, SwipeClock, Insurance Technologies and Mxi Technologies

First Analysis served as financial advisor to Selerix and Haynes and Boone LLP served as legal counsel. Lowenstein Sandler LLP provided legal counsel to NexPhase.