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Picture credit: Ben
London-based worker advantages platform, Ben, introduced on Wednesday that it has secured $16M (roughly €15.7M) in a Collection A spherical of funding led by Atomico. The most recent spherical brings the overall funding raised by the corporate to $21M (roughly €20.6M).
Cherry Ventures, DN Capital, Seedcamp, in addition to HR and FinTech founders and angels, together with Ross Seychell (Chief Folks Officer, Personio), Phil Chambers and Neil Ryland (Peakon CEO and CRO), and Job van der Voort (Distant CEO and founder), participated within the spherical.
Atomico’ Associate Sasha Vidiborskiy will be part of Ben’s board as a part of the funding.
The UK firm says it is going to use the funds to speed up the event of its SaaS and funds know-how and develop its international employer buyer base.
Ben: What you must know
Based by Sebastian Fallert and David Duckworth in 2019, the corporate’s know-how integrates accounting, HR, and Payroll methods to streamline all onboarding, enrollment, administration, and offboarding processes.
Ben’s per-employee Ben Mastercard and versatile allowance operate allow corporations to set worker budgets and spending guidelines. The corporate is working with 150+ corporations globally, from mid-sized, absolutely distributed corporations to giant enterprises.
In keeping with Sebastian Fallert, the corporate brings collectively worker profit help for Child Boomers, Era X, Millennials, and Era Z in a single place.
“That is the primary time in historical past that 4 generations coexist within the workforce concurrently. Child Boomers, Era X, Millennials, and Era Z take part in a posh international financial system, and their profit necessities fluctuate and fluctuate,” mentioned Ben CEO and co-founder Sebastian Fallert. “Firms, lots of whom are spending round 33 per cent of payroll on advantages, are reassessing their conventional advantages packages to suit extra culturally and ethnically numerous groups distributed world wide.”
With its know-how, the UK firm goals to eradicate the difficult HR process of sourcing and managing a package deal related for a complete workforce or spending cash on advantages which are saved in spreadsheets and by no means used.
Investor
Based in 2006, Atomico invests in bold tech founders at Collection A and past with a selected deal with Europe, leveraging deep operational expertise to supercharge their progress.
Atomico has partnered with over 100 bold groups, together with these at Klarna, Supercell, Graphcore, Compass, MessageBird, Masterclass, Attentive Cell, Pipedrive, and Hinge Well being.
The agency presently has $4B in belongings underneath administration.
“The problem of managing advantages has change into more and more troublesome for corporations with a world workforce, particularly given the continuing battle for high expertise. Sadly, the established order is ‘one-size-fits-most’ advantages packages which are managed in spreadsheets in an archaic and largely guide method,” says Atomico Associate Sasha Vidiborskiy.
“Ben’s distinctive platform massively reduces the admin burden on HR and seamlessly delivers advantages that staff care about. This flexibility is essential within the present macroeconomic atmosphere, the place firm efficiency and productiveness rely closely on worker satisfaction and retention,” she provides.
Catch our interview with Paul Down, Head of Gross sales at Intigriti.
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