5 SaaS Startups in the Employee Benefits Industry

January 24, 2023

SaaS startups have become the darling of Venture Capital investors, especially in the Employee Benefits industry. Over the past decade, software has proverbially “eaten the world” and SaaS companies have scaled to become unicorn corporations in staggering amounts of time.

In this article, we are examining 5 VC funded SaaS startups in the Employee Benefits industry.

Awardco

Through value-driven recognition and awards, Awardco encourages behavior and creates a positive workplace culture. It is the only platform for overall rewards and employee recognition that has partnered with Amazon Business to give incentive programs at any size of company access to Amazon's purchasing power. Awardco is the biggest reward network on the globe, offering millions of items, hotels through Priceline, event tickets, gift cards, swag, and bespoke catalogs—all with no markups. Awardco's platform increases employee loyalty since it allows you to create as many recognition, incentive, milestone, or behaviorally-driven programs as you like.

Company details:
Founders:
Steven J Sonnenberg
Founded:
2012
Based in:
Provo, Utah, United States
Website:
Awardco
Industries:
B2B, Employee Benefits, Human Resources, SaaS
Latest funding:
$65,000,000
Series A
28 October 2021
Total funding:
$70,000,000
Investors
General Catalyst, Ryan Smith

Ben

Ben is a one-stop employee benefits platform that allows any business to customize benefits and rewards. Our trick? combining a contemporary software (SaaS) platform, individual Mastercards for each employee, and financial infrastructure. This is how Ben saves you time and money while adding employee choice to your already existing benefits and enabling access to thousands of more alternatives with Ben Card.

Company details:
Founders:
David Duckworth, Sebastian Fallert
Founded:
2019
Based in:
London, England, United Kingdom
Website:
Ben
Industries:
Debit Cards, Employee Benefits, FinTech, Health Insurance, Human Resources, Insurance, Life Insurance, Payments, SaaS, Software
Latest funding:
$16,000,000
Series A
3 August 2022
Total funding:
$18,500,000
Investors
Seedcamp, Atomico, Cherry Ventures, Taavet Hinrikus, Matt Robinson

Ease

The goal of Ease is to customize and modernize the employment experience. collaborating with sector specialists to offer a single, straightforward solution for payroll, benefits, and HR. By providing workers with a single location to access all of their human resources information, Ease makes it simple to set up and administer benefits, onboard new employees, and stay compliant. More than 70,000 companies rely on Ease for online enrollment and HR. The business is situated in San Francisco, California and was established in 2012 by Courtney Guertin and David A. Reid. Ease was recently ranked among the top 100 best employers in America by Forbes, Capterra, and G2 as well as the fifteenth fastest-growing software company for 2020.

Company details:
Founders:
Courtney Guertin, David A. Reid
Founded:
2012
Based in:
San Francisco, California, United States
Website:
Ease
Industries:
Employee Benefits, Human Resources, Insurance, InsurTech, SaaS
Latest funding:
$41,000,000
Series C
25 March 2021
Total funding:
$68,600,000
Investors
Compound, Spectrum Equity, Centana Growth Partners, Propel VC, Upside Partnership

Link Investment Management

Business solutions for equity, health plan administration, and workplace savings are offered by Link Investment Management. The Link team offers group plan solutions from our Calgary headquarters with the aim of improving retirement for all Canadians. With the help of our cutting-edge, entirely digital software-as-a-service (SaaS) business solution, plan administrators and plan participants can administer their benefits programs easily, affordably, and effectively. In order to develop the finest solutions at a competitive price, we work directly with businesses of all sizes as well as through channel partners. Visit our website at www.linkinvestmentmanagment.com for more details about Link Investment Management.

Company details:
Founders:
Brian McClennon
Founded:
2015
Based in:
Calgary, Alberta, Canada
Industries:
Consulting, Employee Benefits, Enterprise Software, Finance, Financial Services, FinTech, Retirement, SaaS, Software
Latest funding:
$2,017,474
Series A
26 October 2021
Total funding:
$9,242,107
Investors
Canaccord Genuity Group

Skuad

Digital onboarding, international payroll, statutory benefits, and local legal compliance in the country of employment are all streamlined by Skuad's Global HR & Payroll Platform. Skuad manages the complete employment lifecycle so businesses may expand abroad without significant financial outlays, challenging HR administration, and months of work.

Company details:
Founders:
Dave Fall, Naman Singhal, Sundeep Sahi
Founded:
2019
Based in:
Singapore, Central Region, Singapore
Website:
Skuad
Industries:
Employee Benefits, Financial Services, Human Resources, Information Technology, SaaS
Latest funding:
$10,000,000
Series A
19 October 2022
Total funding:
$19,000,000
Investors
Anthemis Group, Alto Partners Multi-Family Office, BEENEXT, Mindlance, Rohan Monga

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