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

PRIVATEApr 06, 2023•about 3 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, Kansas, 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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Fundz is a real-time business intelligence platform powered by agentic AI that proactively delivers personalized daily signals — including funding rounds, executive changes, M&A activity, 13F institutional filings, SEC 8-K events, investor activity, and website modifications — based on each user's watchlist and ICP. A trusted data source at firms such as BlackRock, Oracle, Kleiner Perkins, LinkedIn, HubSpot, and Cloudflare, Fundz democratizes the institutional-grade intelligence that previously required a PitchBook or Bloomberg terminal. Features include FundzWatch™ for automated website change detection, FundzIQ™ for AI-powered daily briefings, and unified cross-signal alerts across 200,000+ companies.

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