KERNERSVILLE–RFE Investment Partners, a Connecticut-based private equity firm, in partnership with Weave Growth, has completed a recapitalization investment in Congruity HR, a professional employer organization (PEO).
Financial details were not disclosed.
Congruity provides HR outsourcing solutions to small and mid-sized businesses across the U.S.
The company will continue to operate as Congruity HR led by Darrin Hunter, the founder, and the same management team who will remain a significant part of the ownership structure, RFE said disclosing the investment.
As a value-add co-investor, Weave Growth Partners, with deep roots in Silicon Valley and MIT, the company said, will be integral in leveraging data analytics and automation to bolster sales and enhance the client experience. This tech-enabled backbone will serve as a competitive advantage for regional PEO partners as the platform scales.
Based in North Carolina, Congruity HR PEO was founded in 2011 by Darrin Hunter, who remains as CEO of the operating company. Kernersville is a large suburb of Winston-Salem in the Triad.
The firm works with brokers and agents creating a partnership that translates to added value for their mutual clients. This business model fueled the company’s expansion, resulting in Congruity HR being named one of the fastest-growing private companies on Inc. Magazine’s annual “Inc. 5000” list.
