Several HR Benefit Companies Receive New Funding

The HR Benefits space is becoming highly competitive with a slew of recent venture capital funding announcements. EaseCentral, Artemis Health, and Peerfit have all announced new investments.

Here’s the roundup;

Ease, a leading HR and benefits software solution for SMBs, insurance brokers, and insurance carriers, today announced the close of its $19 million Series B funding round led by Centana Growth Partners with continued participation from Propel Venture Partners, Compound Ventures, Freestyle Capital and Upside Partnership.

The funds will be used to advance Ease’s goal to simplify and enhance HR and benefits administration by building new product capabilities and hiring world-class talent. The first two key hires are Petar Nedyalkov as COO and Toshi Kureha as VP Engineering.

In addition to the funding, the company announced an update to their popular system, used by over 60,000 businesses. In collaboration with MetaLab, the update will include a new product design and system enhancements, as well as the change of the company’s name to Ease. New capabilities within the system will include EaseConnect+, which offers a first-to-market solution for SMB carrier connectivity. Principal Financial, Guardian and Humana are the first to take advantage of the new feature.

Artemis Health, a benefits data analytics company, today announced a Series C funding round to further expand and scale its platform and services. The $25 million round was led by Bessemer Venture Partners with participation from Maverick Ventures, F-Prime, Hearst Health Ventures, and Rose Park Advisors.

Bessemer Venture Partners has a history of investing in health tech companies, and their portfolio has included Allscripts, Bright Health, Liazon, Welltok, and DocuTAP.

Artemis Health, based in Salt Lake City, Utah, provides self-insured employers with insights into employee benefits data to help them reduce wasteful spending and provide effective, affordable health and wellness coverage for employees.

Peerfit, a Tampa, Fla.-based digital health company working with employers to fully fund fitness experiences for their employees, received an $18m investment from Virgo Investment Group.

This investment opened the company’s Series C funding round. In addition to the raise, Virgo Investment Group Managing Director, Pooja Goel, joined Peerfit’s board of directors.

The company intends to use the funds to expand its core brand, reach more employers and their employees, and grow into the Medicare Advantage space with Peerfit Move.

Lastly…

San Francisco-based Cleo, which helps provide a family support system for working parents, announced it raised a $27.5 million Series B round from New Enterprise Associates and angel investors that include former Yahoo CEO Marissa MayerLinkedIn CEO Jeff Weineramong others.


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