BenefitMall

BenefitMall and CompuPay have announced a merger of the companies through an equity financing led by Austin Ventures. The combination of BenefitMall and CompuPay creates a national provider of employee benefit and payroll solutions. The company will offer complete health insurance, benefits, payroll and related products and services to small to medium-sized businesses and their employees throughout the United States. The transaction closed on May 1, 2012, and financial terms were not disclosed.

BenefitMall, headquartered in Dallas, TX, is a general agency with 32 offices in 11 states, serving a network of more than 20,000 brokers nationwide. CompuPay, headquartered in Miramar, FL, is a privately-held payroll processor in the United States with 23 offices in 14 states, serving customers in all 50 states.

Bernard DiFiore, chief executive officer of BenefitMall, will be the CEO of the new company; and Charles Lathrop, chief executive officer of CompuPay, will be the president and chief revenue officer. Both will join the board of directors of the company. Scott Kirksey, who was chief financial officer of BenefitMall, will take that role for the new company and will join DiFiore and Lathrop to form the company’s executive committee. 

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