UK-based employee benefits platform Ben has reportedly collected $2.5m in funding.
Cherry Ventures and Seedcamp served as the lead investors, with commitments also coming from a series of angel investors, according to a report from TechCrunch. Among the angel backers are Indeed founder Paul Forster, TransferWise founder Taavet Hinrikus, Index Ventures partner Carlos Gonzalez-Cadenas, Nested Founder Matt Robinson and Workday vice president of engineering Philip Reynolds.
The company empowers businesses to give each of their employees a range of benefits that meets their needs. Ben works with existing benefits systems and gives them flexibility so employees can pick which ones they want.
Employees are given a Ben Mastercard which has an unallocated budget, meaning they can decide how to spend their allocation of benefits budget.
Ben co-founder and CEO Sebastian Fallert told TechCrunch, “While most companies offer benefits in order to attract and engage team members, and ultimately drive productivity, most solutions don’t deliver the desired outcomes.
“To have impact, offerings need to work for the individual employees; after all, a ‘benefit’ that’s relevant for somebody working from home in their mid-40s could be next to useless for a new starter in their 20s.â€
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