Employee benefits platform Ben raises $16M to cut HR admin
By Editor - Wed Aug 03, 5:28 am
Employee benefits platform Ben today announced it has raised $16 million in a series A round of funding led by European VC giant Atomico. While salary is undoubtedly the main draw in a company’s compensation offer, additional “perks” can help sweeten the deal for current or would-be employees — this could be anything from gym subsidies or an ebike subscription, to meal allowances and mental wellbeing support. But curating and bundling all these various benefits is a massively resource-intensive endeavor, something that Ben is setting out to solve. Founded out of London in 2019, Ben is a SaaS platform that offers core employment benefits such as life insurance, health, and pension, as well as more lifestyle-based nice-to-haves such as gym memberships and work-from-home allowances. While Ben is aimed at the human resources (HR) realm, it essentially straddles both the HR and fintech divide, integrating with systems spanning accounting, HR, and payroll to automate many of the onboarding and enrolment processes.
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