Liazon Corporation, a New York City and Buffalo-based company that operates a private online benefits store enabling employees to purchase healthcare and insurance products, has secured a $12.6m round of funding.
Investors include Bain Capital Ventures, Ingleside Investors, Rand Capital, SBIC, and other undisclosed investors.
The company, with over 2,000 customers across 23 states, revolutionizes how employers manage their employee benefits programs.
As stated by Ashok Subramanian, Liazon’s CEO and Co-Founder, the company intends to use the capital to expand its national sales and marketing efforts and continue to innovate on the Bright Choices® online store, which allows employers to define their long-term benefits contribution and employees to select tailored benefits portfolios from a wide range of combinations of insurance, healthcare, and financial products.
Founded in 2007, Liazon now serves companies ranging in size from sole proprietors to 3,500 employees. The company also manages insurance programs for Chambers of Commerce, business associations, and other channel partners.