Winnipeg-based group benefits and human resource provider People Corporation has announced its acquisition of Collage, a cloud-based HR and benefits startup based in Toronto. Terms of the deal were not disclosed.
“We expect to be well-positioned to generate the necessary scale to take the business to the next level.”
Founded in 2016, Collage was launched to try to provide the “connective webbing” for workplaces, tackling both HR and benefits management for small businesses. Collage is a Diagram-backed startup, having received $5 million in funding from the part-venture-firm, part-accelerator. Diagram, itself, is backed by Portag3 Ventures, which is supported by the Desmarais Family’s Power Financial.
“Collage has generated rapid growth to this point, and combining with People Corporation’s culture, extensive distribution network, and client-focused product and service portfolio, we expect to be well-positioned to generate the necessary scale to take the business to the next level,” said Collage co-founder Elijah Moore.
Collage’s benefits, HR, and payroll solutions, which connect employees, employers, consultants, and insurance carriers in one integrated platform, will continue to operate, while leveraging People Corporation’s distribution and product capabilities. As part of the acquisition Collage’s team has also joined People Corporation, which the company said will help enhance technology-enabled product and service delivery across People Corporation’s business.
The acquisition is expected to help People Corporation offer integrated HR and benefits solutions to small-and-medium-sized businesses (SMBs) across Canada, People Corporation said. Collage will also provide a digital platform to support People Corporation’s third-party distribution network. In addition, the Canadian group benefits and HR provider expects Collage’s digital platforms to help with its technology-related value through digitizing the enrollment and administration of group benefits and enhancing the user experience of plan members and plan sponsors.
“The combination of Collage’s digital delivery platform with People Corporation’s vast distribution reach and breadth of solution offerings, will significantly enhance our ability to offer ‘packaged’ HR, benefits administration and payroll solutions to small and medium-sized businesses,” said Laurie Goldberg, People Corporation’s CEO and chairman.
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