About PlanSource
PlanSource is a company based in Orlando (United States) founded in 2008 by Ted White was acquired by Vista Equity Partners in March 2019.. PlanSource has raised $94 million across 3 funding rounds from investors including CoAdvantage, Great Hill Partners and Lemhi Ventures. The company has 195 employees as of April 04, 2024. PlanSource has completed 2 acquisitions, including ClearBenefits and Next Generation Enrollment. PlanSource offers products and services including Benefits Administration Platform, Employee Engagement Solutions, Billing Reconciliation Services, and COBRA Administration. PlanSource operates in a competitive market with competitors including Hinge Health, Practo, Accolade, Sharecare and Konfío, among others.
- Headquarter Orlando, United States
- Employees 195 as on 04 Apr, 2024
- Founders Ted White
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Sectors
Financial ServicesTechnology Healthcare
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Plansource India Operations Private Limited
- Date of Incorporation 28 Aug, 2020
- Jurisdiction Bengaluru, Karnataka, India
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Annual Revenue
$6.68 M (USD)45.77as on Mar 31, 2023
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Net Profit
$537.68 K (USD)21.45as on Mar 31, 2023
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EBITDA
$1.03 M (USD)46.41as on Mar 31, 2023
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Total Equity Funding
$94 M (USD)
in 3 rounds
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Latest Funding Round
$70 M (USD), Series C
Aug 21, 2015
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Investors
CoAdvantage
& 4 more
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Employee Count
195
as on Apr 04, 2024
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Investments & Acquisitions
ClearBenefits
& 1 more
- Acquired by
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Products & Services of PlanSource
PlanSource offers a comprehensive portfolio of products and services, including Benefits Administration Platform, Employee Engagement Solutions, Billing Reconciliation Services, and COBRA Administration. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Streamlines HR tasks for benefits enrollment and compliance
Enhances communication and engagement for HR teams
Automates billing accuracy and payment processes
Manages COBRA responsibilities for employee benefits
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Software Development Team
44 people
Leadership Team
20 people
Customer Team
15 people
Sales and Marketing
13 people
Senior Team
12 people
Product Management Team
9 people
Sr. Team
5 people
Data Analysis and Operations Team
5 people
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Funding Insights of PlanSource
PlanSource has successfully raised a total of $94M across 3 strategic funding rounds. The most recent funding activity was a Series C round of $70 million completed in August 2015. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series C — $70.0M
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First Round
First Round
(01 Feb 2012)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2015 | Amount | Series C - PlanSource | Valuation | Great Hill Partners |
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| Jan, 2014 | Amount | Series B - PlanSource | Valuation | Lemhi Ventures , Timucuan Asset Management |
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| Feb, 2012 | Amount | Series A - PlanSource | Valuation | Lemhi Ventures |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in PlanSource
PlanSource has secured backing from 5 investors, including venture fund investors. Prominent investors backing the company include CoAdvantage, Great Hill Partners and Lemhi Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Business acquisitions are targeted by the private equity firm.
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Founded Year | Domain | Location | |
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Venture capital investments are focused on healthcare system transformation.
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Founded Year | Domain | Location | |
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A private investment firm based in Jacksonville, Florida.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by PlanSource
PlanSource has strategically engaged in corporate development activities, having acquired 2 companies. Notable acquisitions include ClearBenefits and Next Generation Enrollment. These strategic investments and acquisitions demonstrate the company's commitment to growth through portfolio expansion, market consolidation, technology integration, and strategic partnerships that enhance competitive positioning and drive long-term value creation.
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Cloud-based platform for enrollment management services is offered.
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2004 | ||||
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Provider of employee benefits software and services
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1999 |
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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OVO is recognized as a smart digital payment application.
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2017 | ||||
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Bionic investment advisor platform
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 |
Financial Statements - PlanSource
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Plansource Comparisons
Competitors of PlanSource
PlanSource 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, Practo, Accolade, Sharecare and Konfío, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Virtual physical therapy and digital pain care solutions are provided.
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| domain | founded_year | HQ Location |
Doctor appointments are booked and healthcare professionals are consulted online.
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| domain | founded_year | HQ Location |
Employee health benefits are facilitated via a cloud-based platform.
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| domain | founded_year | HQ Location |
Health and wellness social network for employees is provided.
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| domain | founded_year | HQ Location |
Financial solutions platform provider
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| domain | founded_year | HQ Location |
Cloud-based employee benefits administration solutions are delivered.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Plansource
Frequently Asked Questions about PlanSource
When was PlanSource founded?
PlanSource was founded in 2008 and raised its 1st funding round 4 years after it was founded.
Where is PlanSource located?
PlanSource is headquartered in Orlando, United States. It is registered at Orlando, Florida, United States.
Is PlanSource a funded company?
PlanSource is a funded company, having raised a total of $94M across 3 funding rounds to date. The company's 1st funding round was a Series A of $12M, raised on Feb 01, 2012.
How many employees does PlanSource have?
As of Apr 04, 2024, the latest employee count at PlanSource is 195.
What is the annual revenue of PlanSource?
Annual revenue of PlanSource is $6.68M as on Mar 31, 2023.
What does PlanSource do?
Founded in 2008, PlanSource operates from Orlando, United States, in the HR technology sector. A cloud-based platform is provided for small and medium-sized businesses to manage HR and benefits administration. Benefits transactions are automated through integrations with insurance carriers. PlanSource HR, a content management system, is also supplied to benefits advisors, enabling the publishing and distribution of HR and benefits information to employees.
Who are the top competitors of PlanSource?
PlanSource's top competitors include Accolade, Hinge Health and Wellhub.
What products or services does PlanSource offer?
PlanSource offers Benefits Administration Platform, Employee Engagement Solutions, Billing Reconciliation Services, and COBRA Administration.
How many acquisitions has PlanSource made?
PlanSource has made 2 acquisitions, including ClearBenefits, and Next Generation Enrollment.
Who are PlanSource's investors?
PlanSource has 5 investors. Key investors include CoAdvantage, Great Hill Partners, Lemhi Ventures, Timucuan Asset Management, and Vista Equity Partners.
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