benefitbay, a Kansas City, MO-based provider of an end-to-end ICHRA administration platform for brokers and their clients, raised $2.5M in Seed+ funding, at a $12.5M valuation.
The round was led by Right Side Capital and Comeback Capital.
Led by CEO Brandy Burch, benefitbay is an end-to-end platform for brokers to manage and administer ICHRA plans, while also providing employees with a streamlined and personalized benefits experience.
The company intends to use the funds for additional tech improvements, ensuring quality of the delivered product to customers, and improving the user experience for their clients. This investment will enable benefitbay to add technical capabilities for higher-level strategic partnerships and to improve their offerings to customers with ancillary products. Additionally, the company is currently working on payroll integration and shopping enrollments, which will allow customers to choose various plans and have an improved user experience with the technology.
FinSMEs
17/04/2023