PTO Exchange, a Woodinville, WA-based flexible benefits platform, secured $3m in seed funding.
WestRiver Group made the investment.
The company intends to use the funds expand operations and its business reach.
Led by Co-founder and CEO Rob Whalen, PTO Exchange offers a patented solution that allows employees to personalize their workplace benefits. They can convert unused paid time off into tangible goods and services, including vacations, retirement funding, student loans and charitable donations.
The company’s platform also addresses the multitude of tax laws so employees can access this asset without any adverse tax consequences.
It is compliant in all fifty states.