Veritas Prime has received a $31.5m from Carrick Capital Partners, a growth-focused firm specialising in software and technology-enabled businesses.
Carrick Capital Partners, which invests in high-growth companies driving digital transformation, led the round as part of its strategy to support software providers with strong operational and market potential.
Founded as a leading partner to the SAP SuccessFactors and Payroll suite, Veritas Prime offers end-to-end implementation, licensing, support, and managed payroll and tax services through its integrated technology platform. This unified approach has positioned the company as a trusted partner within the SAP ecosystem, particularly for organisations seeking scalable cloud-based human resources and payroll solutions.
The new investment will enable Veritas Prime to expand its Business Process as a Service (BPaaS) offerings and bolster its SAP S/4 Finance practice. The firm also intends to use the capital to enhance its technology infrastructure and attract additional talent to support its continued growth.
Carrick Capital Partners managing director Rob Delaney said, “Veritas Prime has a phenomenal track record as the leading boutique implementation and managed services partner and is highly regarded in the SAP ecosystem. We see a unique opportunity to create value for customers through end-to-end HR and payroll technology solutions wrapped around the powerful SAP suite. With its exceptional blend of payroll/HR expertise, delivery capabilities, and technology assets, Veritas Prime is poised to maximize that opportunity.”
Veritas Prime CEO Mike Pappis said, “This investment is a pivotal milestone for Veritas Prime. Carrick’s backing and expertise in the payroll and BPaaS sector, extensive and current payroll investment experience, and operational history pioneering technology-based HCM/payroll outsourcing further validates our vision and will help drive momentum in the BPaaS space. As organizations increasingly look to optimize business outcomes through scalable, cloud-based services, Veritas Prime is uniquely positioned to deliver integrated SAP solutions that bridge technology, process, and people.”
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