Benefitbay™ Raises $2.5 Million In Seed Plus Round, Led By Right Side Capital And Comeback Capital

Apr 06, 2023•over 2 years ago

Amount Raised

$2.5 Million

Round Type

seed

Kansas CityInformation Technology

Description

benefitbayTM, an end-to-end ICHRA administration platform for brokers and their clients, has announced that it has raised $2.5 million at a $12.5 million valuation for their seed plus round. This funding will be used to unlock additional tech improvements, ensure quality of the delivered product to customers, and improve the overall user experience for their clients.

Company Information

Company

Benefitbay

Location

1475 WALNUT STREET, SUITE 12

Kansas City, Missouri, United States

About

Benefitbay is the first-of-its-kind platform that enables brokers, employers, and employees to securely deploy and manage Individual Coverage Health Reimbursement Arrangements (ICHRA) with full SOC II Type II compliance. Launched in 2020, Benefitbay simplifies ICHRA adoption by providing an end-to-end solution for modeling, deploying, and overseeing plans, while empowering employees to select health coverage tailored to their individual needs. With predictable costs for employers and greater freedom and portability for employees, Benefitbay is driving the industry-wide shift from group to individual health benefits, making ICHRA a powerful tool for attracting and retaining top talent.

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Benefitbay™ Raises $2.5 Million In Seed Plus Round, Led By Right Side Capital And Comeback Capital

Description

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