Parento, the US-based provider of parental leave insurance and employee support services, has raised $5.9m in a Seed II funding round.
The round was led by ResilienceVC with participation from Kapor Capital, Bread & Butter Ventures, Operator Stack, Coyote Ventures, ffVC, Human Ventures, Springbank, Precursor, Cross Impact, K Street, Evidenced, and Avesta. This brings Parento’s total fundraising to $10.3m.
Founded in 2019, Parento claims to offer the only paid parental leave insurance product on the market, paired with leave management tools and parent coaching.
The firm said the new funds will go towards product development and hiring across sales and marketing, as well as the launch of new insurance products.
Parento founder and CEO Dirk Doebler said, “Parenthood is not gendered, and paid parental leave is not just for Silicon Valley or STEM, but for every workplace interested in employee wellness, talent acquisition, and retention.
“As demand grows and the definition of family evolves to match reality, there’s a systemic need for a true solution. Parento makes paid parental leave affordable and attainable for every company, regardless of size or budget.”
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