San Francisco-based company Ease first set out to bring the benefits enrollment and management process completely online. In the pandemic era, its service has proven to be vital and now the company has received a fresh injection of capital to support its growth. The HR platform announced Thursday that it raised $41 million in a Series C led by Spectrum Equity.
Founded in 2012, Ease aims to eliminate complicated insurance paperwork and increase employee access to their benefits information via its cloud-based software solution.
“This pandemic reinforced an already accelerating trend: companies are becoming increasingly more reliant on digital solutions to conduct business and meet their employees’ needs, and brokers who have not already adopted more modern technology capabilities are running the risk of becoming obsolete,” David Reid, co-founder and CEO of Ease, said in a statement.
Ease provides small-to-medium-sized businesses with the virtual infrastructure to efficiently administer their employees’ benefits. The company works alongside insurance brokers to help these businesses modernize their offerings.
“SMBs often do not have dedicated personnel or technology resources to facilitate critical health, life and medical insurance decisions for their employees,” Vic Parker, managing director of Spectrum Equity, said in a statement. “Ease provides a platform to solve a long-standing structural pain point.”
Following the latest investment, Ease plans to expand the size of its team. The company is now hiring for dozens of remote positions across its customer success, marketing, operations and sales teams.
“I am proud of what Ease has accomplished over the past year — we have shown that our team is ahead of the market with our technology,” Parker continued.
In addition to its headquarters in San Francisco, Ease has offices in Las Vegas, New York, Omaha and San Diego.
Ease has raised $70 million in venture capital financing to date, according to the company.
Additional investors Centana Growth Partners, Propel Venture Partners and Freestyle Capital participated in the round, among others.
