BeneStream, a NYC-based health technology company, raised $4.26m Series A round of financing.
The round was led by Michael Sachs’ TLSG Investments, LLC, and Sachs will join and chair the BeneStream board. Other investors in the round include Kapor Capital and Relativity Healthcare Partners as well as seed investors Serious Change, LP, Kevin Hill, Martin Babinec, and George V. Duczak.
The company intends to use the funds to deepen its broker partner networks as well as begin to expand its relationships among companies that process the Work Opportunity Tax Credit (WOTC).
Led by Ben Geyerhahn, CEO and Founder, BeneStream provides Medicaid Migration™, which connects qualified employees to government health benefits, saving employers their insurance costs.
The company is currently working with more than half of the top 10 largest brokerages in the country.