Compass HRM Inc.

Problem

The ACA (Affordable Care Act a/k/a/ ‘Obamacare’) was going to force all SMBs over 25 EEs to offer Health Insurance to their employees. This would require all companies to purchase insurance, offer enrollment, and file new IRS year-end tax forms causing a massive administrative burden on SMBs in the domestic US.

Solution

We built a single database solution for SMBs that solved the ACA filing needs for benefits enrollment and administration platform that grew to include automated payroll & tax filings, HRMS and TLM. The product was distributed both D2C and ID2C (through large scale insurance benefits brokerage agencies) throughout the US.

Role

Founder

Scale

>100k users with penetration in every US state and processed billions in payroll annually

Funding

Bootstrapped/Exit

Result

Sold to Asure Software (Nasdaq: ASUR) in 2017

Categories

Web

FinServ & Tax

Insuretech