Benepass announced a $12 Million Series A Round of VC funding for its pre-tax benefits and perks platform. This brings its total raised to $14.7 million. The round was led by Threshold Ventures.
Benepass brings together pre-tax benefits and perks into one Visa card and access to a web portal and mobile app to track spending, check balances, and request reimbursements. In its announcement Benepass claims that “common stipends include wellness, professional development, meals, hybrid work, and recognition. The pre-tax suite includes Flexible Spending Accounts, Health Savings Accounts, and Commuter.”
Benepass is an example of two recent trends: fintech crossing into work tech and benefits starting to align with employee experience.
$13.7 billion was invested globally in work tech through Q3 2021 across 299 deals. WorkTech Market Insiders can access insights and analysis of all of the deals in our Q3 report with a free membership.
Source: Announcing our Series A
