Ease Raises $ 41 Million in Series C Funding, Fulfills Mission to Simplify and Improve HR and Benefits Administration
SAN FRANCISCO, March 25, 2021 / PRNewswire / – Facilitate, a leading HR and benefits software solution for small businesses, insurance brokers and insurance companies, announced today $ 41 million in Series C financing led by Spectrum equity with the participation of existing investors Centana Growth Partners, Propel Venture Partners, Freestyle capital, Composed companies and Partnership upside down. Along with the investment, Vic Parker from Spectrum Equity will join the Ease Board of Directors.
“SMEs often do not have the dedicated human or technological resources to facilitate critical health, life and medical insurance decisions for their employees. Ease provides a cloud-based platform to solve a long-standing structural problem of delivering critical and complex insurance products to a widely dispersed SME market, ”said Vic Parker, Managing Director of Spectrum Equity. “Ease has done a great job working with insurance brokers to help even the smallest businesses modernize their benefits administration technology stacks. We are delighted to be working with David and the Ease team as we ‘They continue to provide a unified registration system for essential benefits data accessible by businesses, brokers and insurance companies.
The new round of funding brings the company’s total funding to $ 70 million and is further validation from the investment community that the benefits and human resources industry today must move forward and are poised to grow. With the explosion of remote working in the aftermath of the COVID-19 pandemic, Ease’s mission to bring the process of enrollment and management of benefits online, eliminate tedious and complicated red tape in matters of insurance and increasing employee access to their benefits information has become increasingly essential. With this latest cycle, Ease will use the funds to enable SMBs to leverage employee data to connect all of their systems, as well as hire new talent, including the recent appointment of Husband Kemp to the Senior Vice President of Human Resources.
“This pandemic has reinforced an already accelerating trend: companies increasingly depend on digital solutions to run their businesses and meet the needs of their employees, and brokers who have yet to adopt more modern technological capabilities, are running the risk of becoming obsolete ”, explained David reid, co-founder and CEO of Ease. “I am proud of what Ease has accomplished over the past year – we have shown that our team is ahead of the market with our technology. We are delighted to add Spectrum Equity, a successful strategic partner demonstrated in scaling insurtech and SME-focused companies to our scale, to our investor group. With the support of our investors, we have a clear path forward to continue working with forward carriers. guardians who are committed to helping SMEs and the millions of people they employ.
Founded in 2012, Ease works with companies ranging in size from two to 250 employees and is now used by over 2,000 insurance agencies to forge a deeper relationship with their over 75,000 clients and over 2.5 million employees. Thanks to Ease’s EaseConnect + offer, a first solution on the market launched in 2018, one million employees of SMEs have their healthcare service data connected directly to their insurers via Ease.
About the ease
Ease is an online benefits registration system designed for insurance brokers and employers. Ease makes it easy to set up and manage benefits, onboard new hires, comply, and provide employees with a single destination for all their human resources information. Started in 2012 at San Francisco by a benefits veteran David reid and web architect and engineering Courtney guertin, Ease works with insurance brokers and small businesses to create seamless HR and benefits processes on an easy-to-use system. Ease has offices at Las Vegas, new York, Omaha and San Diego. In 2015, Ease launched on the West Coast and is among the most widely adopted and fastest growing solutions for brokers and employers in the region, with over 75,000 employers and over 2.5 million of employees. For more information, visit www.ease.com.
About spectrum equity
Spectrum Equity is a leading private equity firm providing capital and strategic support to innovative companies in the information economy. For more than 25 years, the company has partnered with exceptional entrepreneurs and management teams to create long-term value in market-leading Internet information software and services companies. Representative investments include Ancestry, Bats Global Markets, Definitive Healthcare, GoodRx, Grubhub, Lynda.com, Origami Risk, SurveyMonkey, and Verafin. For more information, including a full list of portfolio investments, visit www.spectrumequity.com.
SOURCE Ease