The small companies Greycroft invests in need HR expertise but lack the resources to staff an internal HR team.
TriNet’s robust benefits offering and self-service technology platform help their portfolio companies stay in compliance and compete for talent.
Greycroft is a leading seed-to-growth venture capital firm focused on investments in consumer and enterprise technology companies. The VC firm builds enduring relationships with the founders of their portfolio companies to help them grow transformative businesses. Successful companies that have exited Greycroft include a popular grocery delivery service sold to a large, nationwide retailer and a mobile payment service that is now owned by a leading online payment transfer platform. The firm has more than $2 billion in assets under management and have made over 250 investments since their inception in 2006.
Beyond providing capital, one of Greycroft’s founding principles is to advise and empower entrepreneurs to achieve their vision. The CEOs of Greycroft companies benefit from the hands-on interaction provided by the Greycroft partners along with their extensive network of business relationships to help them leverage the entire partnership of the VC firm.
Platform Director Hannah Shore’s purview includes working with companies after Greycroft has invested in them; providing tools to recruit talent, forging strategic relationships and implementing the best solutions to help their companies succeed—one of which is TriNet. Many of the companies that Hannah works with run a slim operation and don’t have the headcount for a dedicated, internal HR team. She recommends TriNet to these businesses as a comprehensive HR solution so they can offer premium benefits to their team and compete with larger companies for top talent. Working with TriNet means their size no longer limits access to top insurance carriers. Hannah positions TriNet to founders as a “great solution for small to mid-size companies who are looking to provide their employees with a robust benefits package and an all-in-one solution where you can view payroll, benefits, and any other HR-related information.”
Hannah is confident recommending TriNet to their entrepreneurs because, as a client themselves, Greycroft values the same comprehensive HR solution. Greycroft highly values TriNet’s streamlined payroll services through the self-service platform. The simple, online solution calculates and withholds taxes so Greycroft can have peace of mind when it comes to payroll administration and compliance. “I think the platform is very easy to use and it’s very responsive,” says Hannah who acknowledges that it’s her favorite part about working with TriNet. The leading-edge technology not only includes payroll features, but allows Greycroft employees to manage HR needs in real time such as enrolling in benefits, viewing pay information, updating direct deposit information and requesting time off, to name a few.
The Greycroft team of over 45 investment and business operations professionals are located in New York City and Los Angeles—two areas with some of the most complex employment regulations. TriNet HR experts and robust technology platform allow Greycroft to spend less time navigating each state’s payroll tax requirements, workers’ compensation, benefits compliance and varying employment laws, and more time on empowering their entrepreneurs to execute on their vision.