About SmartPay
SmartPay is a company based in Southington (United States) founded in 2010. It operates as a SaaS (Software-as-a-Service), Pay-per-Use / Usage-Based, and InsurTech. SmartPay has raised $1.4 million across 1 funding round from investors including Connecticut Innovations, Tennant Capital and Stonehenge Capital. The company has 33 employees as of December 31, 2022. SmartPay offers products and services including PayGo Solution. SmartPay operates in a competitive market with competitors including Exactuals, InsurePay, SCIO Health Analytics, ePayPolicy and VPay, among others.
- Headquarter Southington, United States
- Employees 33 as on 31 Dec, 2022
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Sectors
Financial Services
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Phone
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Website
Locked
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Social
Locked
- Legal Name Smartpay Solutions, Llc
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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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Total Equity Funding
$1.4 M (USD)
in 1 rounds
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Latest Funding Round
$1.4 M (USD), Series A
Jun 02, 2014
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Investors
Connecticut Innovations
& 2 more
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Employee Count
33
as on Dec 31, 2022
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Products & Services of SmartPay
SmartPay offers a comprehensive portfolio of products and services, including PayGo Solution.
Pay-as-you-go insurance payments are facilitated for workers' compensation.
People of SmartPay
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Funding Insights of SmartPay
SmartPay has successfully raised a total of $1.4M through 1 strategic funding round. The most recent funding activity was a Series A round of $1.4 million completed in June 2014. 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.
Investors in SmartPay
SmartPay has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Connecticut Innovations, Tennant Capital and Stonehenge Capital.
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Venture capital services for biotech, IT, and innovative sectors in Connecticut.
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US private equity investments are managed by Stonehenge Capital.
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Investor details for SmartPay
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Investments & Acquisitions by SmartPay
Investment portfolio details for SmartPay
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Financial Statements - SmartPay
Detailed financials for SmartPay
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Smartpay Comparisons
Peer comparison for SmartPay
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Competitors of SmartPay
SmartPay 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 Exactuals, InsurePay, SCIO Health Analytics, ePayPolicy and VPay, among others.
| Company Name | Domain | Founded year | HQ Location | Description |
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Cloud-based payroll management is delivered to enterprises in creative sectors.
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Cloud-based payroll integration is provided for insurance premium collection.
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Provides payment integrity solutions for healthcare organizations
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Insurance payments are collected online via ACH and credit cards.
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Payment solutions provider for insurers
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Detailed competitors of SmartPay
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Latest news on Smartpay
Complete news archive for SmartPay
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Frequently Asked Questions about SmartPay
SmartPay was founded in 2010 and raised its 1st funding round 4 years after it was founded.
SmartPay is headquartered in Southington, United States. It is registered at Southington, Connecticut, United States.
SmartPay is a funded company, having raised a total of $1.4M across 1 funding round to date.
As of Dec 31, 2022, the latest employee count at SmartPay is 33.
SmartPay is established as a prominent provider of pay-as-you-go solutions for various lines of insurance, particularly workers compensation. Services are offered through a SaaS-based platform that integrates with existing processes of insurance providers, agents, payroll providers, and policyholders. The company is focused on delivering flexible payment options based on actual payroll data, reducing audit surprises, and improving cash flow for clients. Operations are supported by best-in-class technology and in-house customer care, ensuring seamless service across the insurance sector. Partnerships are maintained with over 75 providers, 3,000 agents, and 350 payroll providers, catering to more than 30,000 policyholders.
SmartPay's top competitors include Exactuals, ePayPolicy and SCIO Health Analytics.
SmartPay offers PayGo Solution.
SmartPay has 3 investors. Key investors include Connecticut Innovations, Tennant Capital, and Stonehenge Capital.