WAYNE, PA — Inverness Graham has acquired a majority stake in compliance software provider EasyLlama, giving the Wayne-based private equity firm another platform in governance, risk and compliance technology as regulatory requirements expand for smaller businesses.
EasyLlama provides compliance training and workflow software to more than 5,500 small and medium-sized businesses across technology, healthcare, professional services, manufacturing, food service and hospitality. Financial terms of the recapitalization were not disclosed.
The investment extends Inverness Graham’s presence in governance, risk and compliance, or GRC, and human resources technology. The firm previously invested in Syntrio and Swipeclock, selling both businesses in 2024 to Mitratech and IRIS Software Group, respectively.
Founded in 2019, EasyLlama initially focused on harassment-prevention training following California Senate Bill 1343, which expanded training requirements to employers with five or more employees. The company has since broadened into other workplace risk and compliance functions.
Its platform combines compliance courses, integrations with human resources information systems and AI-based workflow automation intended to help smaller businesses manage requirements without large internal compliance departments.
“Small businesses now face many of the same compliance requirements as large enterprises, but few have the resources to manage them alone,” Inverness Graham partner Chris Frystock said.
Inverness Graham plans to expand EasyLlama’s GRC software capabilities, partner network and application-specific content. The companies also intend to pursue acquisitions as part of the growth strategy.
EasyLlama co-founder and Chief Executive Officer Samuel Devyver said the companies plan to scale the platform “both organically and through strategic acquisitions.”
The majority recapitalization gives Inverness Graham control of a business operating in a segment where growing state and federal requirements are increasing compliance obligations for smaller employers.
Paul Hastings served as legal counsel to Inverness Graham, while Shea & Company LLC was its exclusive financial adviser. Gunderson Dettmer represented EasyLlama as legal counsel, with Vista Point Advisors serving as its exclusive financial adviser.
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