Cangaroo, a Quebec-based small business that developed a versatile and high-performing online HR management software, is now part of AGA Benefit Solutions. This new acquisition will enable AGA to expand its service offering to Canadian businesses, and allow Cangaroo to leverage AGA’s growth in order to quickly gain market shares.
What is Cangaroo?
Cangaroo was founded in Montreal in 2015 at the initiative of David Théberge, Bernard Dupuis and Lee McDonald. The three cofounders positioned themselves on the market by offering HR management solutions not only to their group insurance and group retirement service clients, but also to any small business seeking an efficient HR management platform. The firm now has almost 20 employees working in group benefits, and in software development and programming.
Tools for Streamlining HR Management
Human resources management and group benefits management are closely connected. Cangaroo has developed an expertise in both, and stands out from the competition with a service offering combining HR software design and group insurance and retirement services. Their goal is to transform employee and employer experience by streamlining HR management. The Cangaroo HR software helps businesses manage employee records, group benefits, performance reviews, and requests for time-off. It also allows employers to manage job applications in a few clicks and timesheets with an online time stamp.
Cangaroo had reached a critical growth milestone, and wanted to take action to extend its reach, gain fresh momentum, and continue developing its platform in order to fulfill its mission of transforming employee experience and streamlining HR management for employers. This is precisely what this transaction will bring about.
A Perfect Match
“With the enactment of Law 25, our clients are looking for efficient and high-performing human resources management solutions. We were also seeking to complete our service offering by adding an HR solution to facilitate access to group insurance and group retirement services and to streamline their management. In this sense, this acquisition is a perfect match, as it will fuel our growth prospects and enable us to onboard forward-thinking talent,” pointed out Martin Papillon, President and Chief Executive Officer of AGA.
The transaction, completed in partnership with Novacap, became effective October 2, 2023, and both teams began their cooperation forthwith.
Martin Papillon is a Fellow of the Canadian Institute of Actuaries and holds an MBA from HEC Montréal. Throughout his career, he has been working in the group insurance and retirement sector. Before joining AGA in 2013, he held advisory and senior management positions with world-class consulting actuarial firms.