Lowenstein represented NexPhase Capital, LP (NexPhase), an operationally focused private equity firm, in its investment in Selerix Systems, Inc. (Selerix), a leading provider of cloud-based benefits administration and employee engagement software.

Founded in 2002, Selerix provides highly configurable software that facilitates benefits administration, employee engagement, and ACA reporting. 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 integration capabilities that support the enrollment and administration of over $3 billion in voluntary benefits and over $11 billion in medical, dental, and vision benefits annually.

NexPhase is a thematic and operationally focused private equity firm that invests in lower-middle-market, growth-oriented companies within three distinct sectors: consumer, health care, and software and services.

This strategic partnership will enable Selerix to continue its rapid growth as it extends its nearly 20-year track record of leadership in the benefits technology sector. The investment is also expected to further develop the user experience and simplification of Selerix's technology platform and allow Selerix to maintain its leading security protocols.

Terms of the transaction were not disclosed.

Lowenstein Sandler has represented NexPhase on several deals since 2018, including the company’s sale of Insurance Technologies to Thomas H. Lee Partners, strategic partnership with DealerOnsale of Flexible Architecture and Simplified Technology (FAST) to Verisk Analyticsinvestment in Surgentinvestment in Popcornopolis, and investment in Brandt Information Services.

The Lowenstein deal team included Christopher C. Henry, Michael Walutes, Lauren M. Troeller, Kaitlyn M. Baietto, Mitchell DaSilva, Theodore C. Sica, Deangeor Chin, Latoya Bethune, Eric Jesse, Matt Savare, Bryan Sterba, Mary J. Hildebrand, Oluwaseyi O. Amorin, Julie Levinson Werner, Megan Monson, Batool T. Banker, and Stacey C. Tyler.

About Lowenstein Sandler LLP
Lowenstein Sandler is a national law firm with over 350 lawyers based in New York, Palo Alto, New Jersey, Utah, and Washington, D.C. The firm represents leaders in virtually every sector of the global economy, with particular emphasis on investment funds, life sciences, and technology. Recognized for its entrepreneurial spirit and high standard of client service, the firm is committed to the interests of its clients, colleagues, and communities.