About WageWorks
WageWorks is a company based in San Mateo (United States) founded in 2000 was acquired by HealthEquity in June 2019.. WageWorks has raised $40 million across 2 funding rounds from investors including HealthEquity. The company has 1,679 employees as of December 31, 2022. WageWorks has completed 1 acquisition, including Crosbybenefits.com. WageWorks operates in a competitive market with competitors including Hinge Health, Practo, Accolade, Sharecare and Spendesk, among others.
- Headquarter San Mateo, United States
- Employees 1679 as on 31 Dec, 2022
- Stage Public
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Sectors
TechnologyHealthcare
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
$472.18 M-1as on Dec 31, 2018
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Net Profit
$25.97 M-52as on Dec 31, 2018
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EBITDA
$44.38 M-37as on Dec 31, 2018
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Total Equity Funding
$40 M (USD)
in 2 rounds
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Latest Funding Round
$129 K (USD), Grant
Jun 01, 2017
- Investors
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Employee Count
1679
as on Dec 31, 2022
- Investments & Acquisitions
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Acquired by
HealthEquity
(Jun 27, 2019)
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Software Development Team
131 people
Leadership Team
93 people
Sales and Marketing
49 people
Data Analysis and Operations Team
43 people
Senior Team
38 people
Product Management Team
38 people
Finance and Accounting
23 people
Service Team
20 people
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Funding Insights of WageWorks
WageWorks has successfully raised a total of $40M across 2 strategic funding rounds. The most recent funding activity was a Grant round of $129 thousand completed in June 2017. 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 2
- Last Round Grant — $129,000
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First Round
First Round
(07 Jun 2011)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jun, 2017 | Amount | Grant - WageWorks | Valuation |
investors |
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| Jun, 2011 | Amount | Series C - WageWorks | Valuation |
investors |
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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 WageWorks
WageWorks has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include HealthEquity. 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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Health benefits and savings are managed through an app-based platform.
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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 WageWorks
WageWorks has strategically engaged in corporate development activities, having acquired 1 company. Notable acquisitions include Crosbybenefits.com. 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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Employee benefits services are provided by Crosbybenefits.com.
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1997 |
| 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 - WageWorks
| 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 |
Wageworks Comparisons
Competitors of WageWorks
WageWorks 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 Spendesk, 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 |
Provider of prepaid cards for financial benefits of employees
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| domain | founded_year | HQ Location |
Employee health and well-being solutions are delivered through a platform.
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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 Wageworks
Frequently Asked Questions about WageWorks
When was WageWorks founded?
WageWorks was founded in 2000 and raised its 1st funding round 11 years after it was founded.
Where is WageWorks located?
WageWorks is headquartered in San Mateo, United States. It is registered at San Mateo, California, United States.
Is WageWorks a funded company?
WageWorks is a funded company, having raised a total of $40M across 2 funding rounds to date. The company's 1st funding round was a Series C of $40M, raised on Jun 07, 2011.
How many employees does WageWorks have?
As of Dec 31, 2022, the latest employee count at WageWorks is 1,679.
What is the annual revenue of WageWorks?
Annual revenue of WageWorks is $472.18M as on Dec 31, 2018.
What does WageWorks do?
WageWorks was founded in 2000 in San Mateo, United States, within the employee benefits management sector. A web and mobile platform is operated to provide flexible spending accounts, allowing pre-tax contributions for benefits such as tuition reimbursement, health and wellness programs, and fitness expenses. Services are charged to employers on a per-employee basis, with clients including Bank of America, Pfizer, and Union Pacific.
Who are the top competitors of WageWorks?
WageWorks's top competitors include Accolade, Hinge Health and Wellhub.
How many acquisitions has WageWorks made?
WageWorks has made 1 acquisition, including Crosbybenefits.com.
Who are WageWorks's investors?
WageWorks has 1 investor. Key investors include HealthEquity.