Yonder, which is on a mission to build the new standard for global employee benefits, has closed its pre-seed round and launched its private beta.
The pre-seed round closed on €2.6m and was co-led by Northzone and Frontline.
There were several other investors to join the pre-seed. These include Cocoa, Broadstone, Tiny VC, Uncommon Projects, Nomad Capital, Truesight Ventures and Foreword VC.
Angel investors also participated, including former Workday CTO David Clarke, Pointy co-founder Mark Cummins, Evervault CEO Shane Curran, Utmost CEO Annarai O’Toole, Zendesk COO Europe Peter Lorent and many others.
With the funds, the company hopes to accelerate its product development and geographic expansion.
Yonder stylises itself as the simple and borderless way to enrol and manage employees in local health and retirement benefits. Its transforms the complex, offline and paper-heavy process with a simple and automated system.
Its technology can integrate with existing HR tools and allows clients to create their own packages. Some of its benefits include health insurance and pensions. A company also has access to a dashboard where they can manage their packages for all teams, wherever they are, as well as billing, reporting and other information.
Northzone VP Deepka Rana said, “Whilst most tools and processes in the workplace have become increasingly digitised, modern and intuitive, everything around financial benefits such as pensions and health has lagged behind.
“HR teams waste time struggling with outdated systems, and employees lack a transparent and portable overview of their benefits. Yonder is building the infrastructure that will completely upgrade this for providers, companies and employees. We’re incredibly excited to back this team and see the impact their product will have on such a large market and beyond.”
Yonder currently has a team of nine across engineering, product, compliance and customer success.
Earlier in the year, fellow benefits management platform Caju raised $25m in funding. Caju claims its mission is to transform companies’ HR functions through technology.
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