Bennie is thrilled to announce the extension of its Seed round for a total of $38M raised. This latest funding round is led by Motley Fool Ventures and includes Hannah Grey, among others. The announcement comes during an eventful year for the company, which included adding hundreds of new customers to the Bennie platform and its recent acquisition of third-party administrator People 1st Health Strategies.
“2022 has been an unprecedented year of growth for Bennie, and we are excited to welcome Motley Fool Ventures as an investor in the company,” said Matt Straz, Founder and CEO of Bennie. “We’re delighted to have an iconic brand like Motley Fool lead this latest round of funding to help us expand our business to serve many thousands of companies in the years ahead.”
There is an increased need for organizations to balance offering competitive benefits that attract talent while staying within their financial constraints. A combination of a tight labor market and uncertain economic conditions have prompted employers to seek innovative solutions, and Bennie’s technology and services offer an advantage in addressing these challenges.
"Bennie’s turnkey benefits management solution provides growing companies with the tools, expertise, and community needed to compete for, and retain, top talent - and serve as a trusted partner to delivering some of the most critical needs of their workforce. Their commitment to delivering exceptional value resonates and aligns with Motley Fool Ventures’ goals," said Autumn Manning, Partner at Motley Fool Ventures and new Bennie board observer.
Earlier this year, Bennie announced Better Health Plan, a self-funded option for Medical, Dental, and Vision employer-based care. This new suite of products allows small and mid-sized employers to enjoy the benefits of self-funding with lower monthly payments than most fully-insured plans. Better Health Plan is now available in 34 states (with more coming soon).
Bennie looks forward to seeing continued growth as more employers become proactive about the need to look at benefits in a more holistic way - especially in a market where the standard benefits package just doesn’t cut it anymore. Organizations that leverage Bennie’s app and services see the difference that this personalized level of benefits consulting makes from an employee experience and resource-saving standpoint.