Modern Benefits Company Benepass Raises $20 Million
Summary
This is no longer tenable in this macroeconomic climate so companies are analyzing and streamlining these offerings, aiming to cut down on vendors while maintaining employee satisfaction and engagement. This has driven interest and excitement about flexible benefit platforms like Benepass.The additional funding will be used to fuel growth by expanding distribution and technical partnerships with brokers, payroll, and HRIS providers. We invest in companies that are shaping the next generation of enterprise technology and believe that is reflected in Benepasss mission to unlock personalization and global equity in benefits through its proprietary fintech stack and commitment to the user experience.The Benepass team is a group of ambitious, technically minded folks. This has allowed for an effective and fun partnership that ultimately resulted in the smooth launch of multiple new benefits in 2024 that have already received extremely positive feedback from many of Ons U.S. based team members. Charles Kramer, Talent Operations Lead of North and South America at OnThe industry is seeing a rapid consolidation of the tools that companies use to administer benefits.