About Benefitfocus
Benefitfocus is a company based in Charleston (United States) founded in 2000 was acquired by Voya Financial in November 2022. Benefitfocus has completed 2 acquisitions, including Benefit Informatics and Tango Health. Benefitfocus offers products and services including Benefits Administration, Billing and Payroll, Data and Analytics, and Employee Engagement. Benefitfocus operates in a competitive market with competitors including Hinge Health, Alight, Swile, Practo and Accolade, among others.
- Headquarter Charleston, United States
- Stage Public
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Sectors
TechnologyHealthcare
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Email
Locked
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Phone
Locked
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Website
Locked
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Social
Locked
- Legal Name Benefitfocus, Inc.
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Annual Revenue
Not available
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Net Profit
Not available
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EBITDA
Not available
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Latest Funding Round
$80 M (USD), Post-IPO
Jun 04, 2020
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Investors
Voya Financial
& 2 more
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Employee Count
Not available
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Investments & Acquisitions
Benefit Informatics
& 1 more
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Acquired by
Voya Financial
(Nov 01, 2022)
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Products & Services of Benefitfocus
Benefitfocus offers a comprehensive portfolio of products and services, including Benefits Administration, Billing and Payroll, Data and Analytics, and Employee Engagement.
End-to-end platform for managing employee benefits programs efficiently.
Solutions for handling benefits-related billing and payroll processes.
Tools for analyzing health care and benefits data to inform decisions.
Features for employee benefits support via contact center and mobile app.
People of Benefitfocus
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Software Development Team
162 people
Leadership Team
127 people
Sales and Marketing
65 people
Senior Team
54 people
Finance and Accounting
53 people
Data Analysis and Operations Team
21 people
Client Team
17 people
Legal and Compliance
16 people
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Funding Insights of Benefitfocus
Investors in Benefitfocus
Benefitfocus has secured backing from 3 investors, including venture fund and institutional investors. Prominent investors backing the company include Voya Financial, Mercer and BuildGroup.
| Investor | Description | Founded Year | Domain | Location |
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Tech focused VC firm investing in the US & Canada
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Consulting and investment services are provided to organizations across sectors.
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Provider of pension fund for the employees based out of the US
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Investor details for Benefitfocus
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Verified entity values are shown only after access is granted.
Investments & Acquisitions by Benefitfocus
Benefitfocus has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include Benefit Informatics and Tango Health.
Investment portfolio details for Benefitfocus
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- Portfolio identities
- Transaction dates
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Verified entity values are shown only after access is granted.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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SaaS software for ACA compliance and benefits optimization is provided.
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Locked | Locked | 2008 | Locked | |
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Provider of a platform for healthcare data integration, analysis and reporting
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Locked | Locked | 2000 | Locked |
Complete acquisition details for Benefitfocus
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- Acquired stakes
- Disclosed values
- Domains and locations
Verified entity values are shown only after access is granted.
Financial Statements - Benefitfocus
Detailed financials for Benefitfocus
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- Profit trends
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Benefitfocus Comparisons
Peer comparison for Benefitfocus
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Competitors of Benefitfocus
Benefitfocus operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Hinge Health, Alight, Swile, Practo and Accolade, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Virtual physical therapy and digital pain care solutions are provided.
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Cloud-based HRMS solutions are offered for enterprise HR management.
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A card-linked wallet is provided for employee financial management.
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Doctor appointments are booked and healthcare professionals are consulted online.
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Employee health benefits are facilitated via a cloud-based platform.
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Employee benefit administration and payment solutions are provided for enterprises.
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Detailed competitors of Benefitfocus
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- Full company profiles
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Verified entity values are shown only after access is granted.
Latest news on Benefitfocus
Complete news archive for Benefitfocus
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Frequently Asked Questions about Benefitfocus
Benefitfocus was founded in 2000 and raised its 1st funding round 15 years after it was founded.
Benefitfocus is headquartered in Charleston, United States. It is registered at Charleston, South Carolina, United States.
Matt Levin is the current CEO of Benefitfocus.
Cloud-based platform for benefits administration. The companys products for insurance carriers include enrollment that provides online enrollment for various benefits, eBilling, an electronic invoice presentation, a payment solution, and an exchange solution that bridges the communication gap between carrier and employer systems. It provides eSales that give carriers and brokers tools to organize and manage accounts, track leads, generate quotes, and create proposals for various products. Its products for insurance carriers also comprise eDirect which enables carriers to sell policies directly to individuals.
Benefitfocus's top competitors include Accolade, Hinge Health and Alight.
Benefitfocus offers Benefits Administration, Billing and Payroll, Data and Analytics, and Employee Engagement.
Benefitfocus has made 2 acquisitions, including Benefit Informatics, and Tango Health.
Benefitfocus has 3 investors. Key investors include Voya Financial, Mercer, and BuildGroup.