First Analysis acted as the exclusive financial advisor to Selerix Systems for its investment by NexPhase Capital
Selerix 2021

CHICAGO – Aug. 26, 2021 – First Analysis acted as the exclusive financial advisor to Selerix in securing an investment from NexPhase Capital. Selerix produces software used by employers, brokers and carriers to simplify benefits administration, employee engagement and Affordable Care Act (ACA) reporting. The terms of the transaction were not disclosed.

This investment will enable Selerix to accelerate expansion across its platform. NexPhase’s extensive experience in the development and growth of software companies will further cement Selerix as an industry leader and drive growth.

"Selerix engaged First Analysis to lead a competitive process to find a partner that could help scale our business and accelerate growth," said Lyle Griffin, co-founder and president of Selerix. “First Analysis was instrumental in communicating our vision and aligning us with an ideal growth partner. First Analysis' experience and professionalism throughout the process led to an outstanding outcome for Selerix.”

Founded in 2002, Selerix provides highly configurable software that facilitates benefits administration (Selerix BenSelect), employee engagement (Selerix Engage) and ACA reporting (Selerix ACA). With an active user base of over 8.3 million client employees, Selerix is trusted by more than 18,000 employer groups to manage the complexities of end-to-end benefits administration. Selerix’s software is used by an expansive network of leading brokerage firms and insurance companies and is widely recognized for its scalability, flexibility and ease of integration, supporting the enrollment and administration of over $3 billion in voluntary benefits premiums and over $11 billion in medical, dental and vision benefits premiums annually.

First Analysis focuses its advisory services on high-growth, entrepreneur-driven companies like Selerix. The First Analysis team worked closely with the management team to optimally position the company and find the best partner to help Selerix to continue to achieve its objectives. First Analysis was actively engaged throughout the transaction process, including preparation, positioning, investor coordination and contact, due diligence and negotiation.

About Selerix

Selerix Systems produces software (Selerix BenSelect and Selerix Engage) used by employers, brokers and carriers to conquer the chaos of benefits administration, employee engagement, and Affordable Care Act (ACA) reporting. The flexibility of the Selerix BenSelect platform accommodates both core and voluntary insurance products with ease. With an active user base of over 8.3 million client employees, Selerix's innovative software solutions are trusted by organizations in a wide variety of industries, including healthcare, education, transportation/logistics, state and local government, nonprofit, high technology and waste management.

About First Analysis

Founded in 1981, First Analysis has a 40-year track record of serving emerging growth companies and established industry leaders within its focused areas of domain expertise. Our investment banking practice leverages industry insights developed through our research and investing activities to deliver value to clients across the life cycle of a business. Providing senior-level attention to every client, First Analysis offers superior execution across a comprehensive range of investment banking services, including M&A advisory and growth financings.

Rick Conklin
Managing Director

Matthew Nicklin
Managing Director

Corey Greendale
Managing Director

Andrew Walsh
Managing Director

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First Analysis acted as the exclusive financial advisor to Selerix Systems for its investment by NexPhase Capital

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