Aug 26, 2025
Menlo Park, CA & Jacksonville, FL – August 26, 2025 – Accel-KKR Credit Partners today announced that it has provided financing to Greenshades Software, a WayPoint Capital Partners portfolio company, in support of Greenshades’s next phase of growth. Greenshades is a leading provider of payroll, tax compliance, and HR solutions for mid-sized businesses across the United States, and empowers employers to manage payroll, tax filings, and HR administration through a unified, cloud-based platform that integrates seamlessly with ERP systems.
Accel-KKR Credit Partners is a private credit fund managed by Accel-KKR, a global software-focused investment firm headquartered in Silicon Valley.
For over 20 years, Greenshades has partnered with businesses to navigate complex payroll and compliance environments, with a particular focus on organizations that conduct in-house payroll and support frontline and distributed workforces. Greenshades’ platform offers payroll processing, automated tax calculations, and intuitive employee self-service tools designed to reduce administrative burden and improve workforce satisfaction.
Over the last five years, Greenshades has evolved from a tax-focused solution to a full human capital management (HCM) software suite with one of the most modern architectures in the payroll software industry. The company has broadened its ERP integrations and steadily expanded its reach into new markets and use cases, reflecting a rapid evolution of the platform.
“Greenshades has a strong reputation of being a trusted partner to nearly 4,000 customers as they navigate complex payroll and tax compliance environments with confidence using our solutions,” said Vince Murdica, CEO of Greenshades. “Greenshades is now poised to attract more customers by addressing gaps in the HCM industry today with a new platform built for seamless connectivity with various ERP solutions. Partnering with Accel-KKR at this juncture not only brings strategic capital to invest in growth initiatives and accelerate our roadmap, but also brings the network and resources of a leading investment firm with 25 years of software expertise.”
“Greenshades has continued to build upon a strong foundation during our partnership, and we see significant opportunity to scale the business further,” said Kevin Collins, Principal at WayPoint Capital Partners. “Accel-KKR is the ideal partner for this initiative, and we look forward to working together to unlock Greenshades’ next phase of growth.”
“There are few things more important for a business to get right than payroll,” said Samantha Shows, Managing Director at Accel-KKR. “Greenshades has a long history of being a critical partner to its customers, and we are thrilled to work with the company and their investors as the company pursues market expansion opportunities and drives even deeper customer relationships.”
About Greenshades:
Founded in 2002 and headquartered in Jacksonville, Florida, Greenshades Software is a leading provider of payroll, tax compliance, and HR solutions for mid-sized businesses. Its cloud-based platform enables employers to manage payroll, tax filings, HR administration, and compliance with ease and accuracy. Greenshades serves thousands of customers across the United States and is recognized for its intuitive user experience, deep domain expertise, and commitment to customer success.
About WayPoint Capital Partners:
WayPoint Capital Partners, founded in 2004 and headquartered in Stamford, CT, is a growth-oriented private equity firm that makes control investments in exceptional founder and family-led companies within software and technology as well as a range of other industries. Waypoint brings strategic guidance, operational support, and long-term capital to help businesses scale and thrive.
About Accel-KKR:
Accel-KKR is a technology-focused investment firm with over $23 billion in cumulative capital commitments. The firm focuses on software and tech-enabled businesses, well-positioned for topline and bottom-line growth. At the core of Accel-KKR’s investment strategy is a commitment to developing strong partnerships with the management teams of its portfolio companies and a focus on building value alongside management by leveraging the significant resources available through the Accel-KKR network. Accel-KKR focuses on middle-market companies and provides a broad range of capital solutions, including buyout capital, minority-growth investments, and credit alternatives. Accel-KKR also invests across various transaction types, including private company recapitalizations, divisional carve-outs, and going-private transactions. Accel-KKR’s headquarters is in Menlo Park, with offices in Atlanta, London, and Mexico City.
About Accel-KKR Credit Partners:
Accel-KKR Credit Partners provides debt financing to leading software businesses. The fund structures non-dilutive investments for founder-owned businesses and flexible credit products for institutionally owned businesses. The debt capital is used to support acquisitions, dividends, shareholder buy-backs, and growth investment. Accel-KKR Credit Partners has completed over 80 investments and deployed over $1 billion in capital.
The views and opinions expressed are those of the speakers and do not necessarily reflect those of AKKR or its affiliates (“AKKR”). AKKR has not verified the accuracy of any statements by the speakers and disclaims any responsibility therefor. This post is not an offer to sell or the solicitation of an offer to purchase an interest in any private fund managed or sponsored by AKKR or any of the securities of any company discussed. The AKKR portfolio companies identified, if any, are not necessarily representative of all AKKR investments, and no assumption should be made that the investments identified were or will be profitable. For a complete list of AKKR investments, please visit https://www.accel-kkr.com/portfolio/. For additional important disclaimers regarding this interview and blog post, please see [“Informational Purposes Only” in the Terms of Use] for AKKR’s website, available at https://www.accel-kkr.com/privacy-policy-terms-of-use/.