Genesis Capital is pleased to announce FlexTecs, a leader in recovery audit, contract compliance, and payment accuracy software and solutions, received a strategic investment from Cohere Capital, a Boston-based private equity firm focused on investing in differentiated technology and tech-enabled services companies.
Through its services and technology, FlexTecs reviews over $1 trillion in client transactions and recovers or prevents over $1 billion incorrect payments annually, resulting in direct savings for its clients. FlexTecs was founded to disrupt the audit recovery industry with a technology-first focus to deliver unparalleled speed, agility, and value to its clients.
This strategic investment positions FlexTecs to drive further value for clients, expand its services and software offering, and accelerate its next phase of growth while also preserving the leadership, culture, and operating model that have defined the company since its founding.
“This partnership comes at a time of tremendous momentum for FlexTecs,” said Tom Cook, Co-Founder and CEO of FlexTecs. “We’ve doubled the size of the business over the past three years and have grown our global team to more than 600 employees. Our differentiated model has created a strong foundation and continues to drive market share gains and lasting value for our clients.”
Cohere Capital brings experience supporting companies through similar periods of expansion, including scaling SaaS and technology offerings that are part of larger services companies. As part of the partnership, Cohere will support FlexTecs’ growth strategy, including continued service and technology innovation, geographic expansion, and potential strategic acquisitions.
“We are excited to partner with Tom and the rest of the FlexTecs leadership team to build on the momentum they have generated over the last several years. It is clear that a key reason for their success is the experienced team and culture that they have purpose-built,” said Daniel Gedney, Co-Founder and Partner at Cohere Capital. “FlexTecs was founded with technology at its core and that has created tremendous differentiation in the market versus their competitors, which we only expect to accelerate as AI continues to advance.”
Genesis Capital served as financial advisor to FlexTecs and Fryer, Shuster, Lester & Pollack P.C. and Arnall Golden Gregory LLP served as legal counsel to FlexTecs.
About FlexTecs
FlexTecs is a technology-enabled recovery audit and contract compliance services and solutions firm that is disrupting and modernizing the recovery audit industry. Companies choose FlexTecs to accelerate cash flow, mitigate risk, and reduce leakage in the payables process. Since 2011, FlexTecs has been taking a different approach to recovery audits, leveraging advanced technology and deep industry expertise to deliver unparalleled results. By providing innovative, data-driven solutions, FlexTecs empowers businesses to optimize their financial operations, recover lost funds, and prevent future inefficiencies. For more information visit www.flextecs.com.
About Cohere Capital
Cohere Capital is a Boston-based private equity firm focused exclusively on middle market growth companies. Cohere Capital has a flexible mandate across growth markets but primarily targets recapitalizations and growth investments in rapidly growing software and technology-enabled services companies. For more information, visit: www.coherecapital.com.