Benefits administration platform
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To help companies distribute meaningful benefits that support the personal and professional well-being of their team.
Chelsea, New York, NY
Few candidates hear
back within 2 weeks
8% employee growth in 12 months
COO of Otta
The US labor market is creating higher demand for top tier talent, and many companies are looking to improve their benefits as a way of staying competitive. Strong health insurance and holiday policies, however, no longer cut it. Benepass is a benefits administration company looking to help companies stay ahead in this new landscape.
The basic Benepass premise is that pre- and post- tax benefits should be flexible and accessible for employees. As things stand, tax-advantage benefits are hugely under-leveraged by employees: they’re either unsuitable for individual employees, or are procedurally complicated or difficult to use. Benepass’ app centralises and simplifies the process, allowing employees to explore, track, and exercise benefits from a single platform and VISA card.
Building Benepass’ product around a card is a nice twist. Platforms like Zestful and Compt, who are similarly directed towards simplifying communication and education around employee benefits, don’t yet offer the same tangible feature. They’re also not as focused on the more complex area of tax-advantage benefits - which make substantial savings for employers as well as employees. Benepass’ solution is an easy win/win, and in today’s labor market conditions an increasingly necessary one.
Last 2 fundraises
This company has top investors
Jaclyn Chen(Co-founder & CEO)
Previously an Associate at Goldman Sachs, then TPG Capital, before moving on to work in Business Development at Teampay.
An ex-Google Mechanical Engineer, who went on to hold a Senior Robotics Engineering role at X: The Moonshot Factory.
Kabir Soorya(Co-founder & CTO)
An In-Q-Tel technologist who then worked on the Senior Technical Staff at Sidewalk Labs.
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