Juno, the first company in the U.S. to provide child disability insurance, has announced the successful closure of an $8.5m Series A funding round.
The round was led by Spero Ventures, with participation from Floating Point, Newark Ventures, and WVV Capital, bringing Juno’s total capital raised to $12.5m.
Juno is pioneering the child disability insurance sector in the United States, filling a critical gap in employer-provided benefits.
The company offers financial protection for parents whose children become severely disabled, an area traditionally neglected by standard employee benefits.
The newly acquired funds will be utilised to expand Juno’s client base and broker network. Additionally, the company plans to increase product flexibility, ensuring their offerings can meet the budgetary needs of any company aiming to provide this benefit.
Juno’s insurance provides up to $1m in tax-free cash, distributed in monthly installments over a decade, covering children from birth to age 26. The benefit can be used to supplement lost income, hire specialised caregivers, or address medical costs not covered by health insurance. Moreover, Juno offers one-on-one support services to assist families in navigating the complexities of their child’s condition.
Jordan Epstein, CEO and co-founder of Juno, commented on the news, stating, “For more than half a century, employers in the U.S. have offered disability insurance as a standard employee benefit, but until now, employees have struggled in silence if their child becomes severely disabled. We are so excited to partner with leading employers and brokers to finally fill this gap and provide life-changing, long-term financial support for working parents. Child disability insurance protects parents from their largest uncovered financial risk, and this latest investment will enable more companies to offer this truly meaningful benefit for their employees.”
Juno’s latest funding round brings their total investment raised to $12.5m, reinforcing their commitment to transforming the landscape of employee benefits and providing essential support for families across the U.S.
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