WAYNE, PA — Inverness Graham announced the recent sale of Swipeclock, a provider of cloud-based human resource management software, to IRIS Software Group. This marks the culmination of a significant transformation since Inverness Graham acquired Swipeclock in June 2017.
Originally a SaaS-based solution focused on time and attendance, Swipeclock has evolved into a comprehensive human resource management platform. Inverness Graham’s strategy involved two strategic acquisitions and various organic growth initiatives. This approach aimed at helping small and medium-sized businesses manage and onboard their workforces more effectively.
“Swipeclock’s transformation during Inverness Graham’s ownership is a testament to our Strategic Platform Build approach,” said Trey Sykes, Managing Principal of Inverness Graham. “Leveraging our deep operational resources and experience in software and tech-enabled services, we drove substantial value creation. This resulted in robust top and bottom-line growth, doubling revenue and tripling EBITDA.”
Coleman Barney, Chief Executive Officer of Swipeclock, highlighted the benefits of the partnership. “With Inverness Graham, we’ve been able to invest in key business areas. We built out our management team, expanded our market approach through channel partners, and added new capabilities through strategic acquisitions. This has driven accelerated growth and created an end-to-end human resource platform. We are proud of our accomplishments and look forward to the next phase of our journey.”
The terms of the transaction were not disclosed. Piper Sandler acted as the exclusive financial advisor, while Paul Hastings LLP served as legal advisor to Swipeclock.
This sale highlights Inverness Graham’s ability to scale and transform tech-enabled businesses, positioning them for long-term success. Under their guidance, Swipeclock became a leading provider in its field, ready for its next chapter with IRIS Software Group.
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