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Payroll Specialist GreenSlate Receives Veronis Suhler Stevenson Investment

Veronis Suhler Stevenson has made a minority investment in GreenSlate, a cloud-based accounting and payroll software platform for the entertainment industry, Variety has learned exclusively.

Terms of the deal, announced Monday, were not disclosed. GreenSlate was founded in 2004 by CEO John Finn and is headquartered in New York with offices in Delhi, Los Angeles, Atlanta, New Orleans, and Albuquerque.

The company supports creators and production houses that produce content for Netflix, Amazon, Facebook, Paramount, Sony, HBO, Discovery and Red Arrow Studios. GreenSlate’s software solutions and services span payroll management, production accounting, residual payments, benefits administration, insurance, and tax credit services.

“We see multiple opportunities to further optimize the business of content production and deliver greater efficiency to our clients,” Finn said. “In the years ahead, we will continue to see growth from our geographic expansion to expanding our product set to continuing to support some of the most innovative, highest growth production companies in our industry. VSS’s investment and experience in our industry will provide additional resources to accelerate our commitment to research and development and fully realize the next chapter of our company’s growth.

VSS has prior experience investing in human capital management companies and was previously invested in Cast & Crew, a payroll processing and related services company for the entertainment industry from 2013 to 2015. Other investments include: TMP Worldwide, a technology-enabled talent acquisition company; Tax Credit Co., a tax incentive consulting, administration, and technology company; System One; Thomsons Online Benefits; and SHL, a pre-employment testing and assessment solutions company.

Trent Hickman, VSS managing director, said, “We are very excited by GreenSlate’s vision and their capacity to drive change, as they have shown with their impressive growth trajectory. We look forward to working together to expand both their service offerings and geographic presence to the benefit of their rapidly growing client base.”

Advisors from Bentley Securities and legal teams from Becker, Glynn, Muffly, Chassin, & Hossinski, Ropes & Gray, and Ravi Ivan Sharma, P.C., were engaged in the transaction.

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