HR and benefits platform for Decisely has raised $60m in a funding round from Two Sigma Private Investments and EPIC Insurance Brokers and Consultants, a Carlyle Group portfolio company.
The Alpharetta, Georgia-based company develops an HR and benefits insurance platform for SMEs in the US.
It aims to combine the dedicated account management of traditional benefits brokers with technology and automation.
Decisely CEO Kevin Dunn commented: “Decisely is the only dedicated small business and broker–collaborative solution.
“We deliver a unique, complete service to both small businesses and the brokers who have traditionally served them.
“We combine dedicated, licensed trusted advisors and a complementary technology platform as a full-service broker-friendly solution for small business.”
Two Sigma managing director and Decisely board member Brian Modesitt said: “In addition to our investment, we are excited to provide Kevin and Decisely with access to Two Sigma’s significant platform capabilities, which we work to do with each of the companies in which we invest, including our insurance capabilities, which are aimed at bringing Two Sigma’s deep expertise in data science and technology to the insurance industry.”
The capital will be used to expand the company’s reach in the SME market where there is growing competition among tech startups.
Zenefits is perhaps the most well-known in the space as a result of the controversy surrounding the company and allegations of individual brokers selling insurance without a full license.
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