Benefitfocus, Inc. (NASDAQ: BNFT), a know-how platform supplier enabling fast innovation for employers, well being plans and customers, not too long ago introduced it has named employment-based holistic monetary wellness companies PayActiv as its new monetary wellness accomplice.
Based in 2000, Benefitfocus claims it unifies your complete U.S. advantages business on a single know-how platform to guard customers’ well being, wealth, and life-style.
“Our highly effective cloud-based software program, data-driven insights and thoughtfully-designed companies, allow employers, insurance coverage brokers and carriers to simplify the complexity of advantages administration and ship a world-class advantages expertise.”
Talking in regards to the partnership, Annmarie Fini, Government Vice President of Buyer Success Group at Benefitfocus, said:
“Benefitfocus connects folks to the advantages options that enhance their lives. PayActiv is a good resolution that builds hourly employees’ confidence and monetary safety with out loans. Employers may also help their employees overcome traumatic moments of their lives and construct a steady financial basis for the long run.”
The Benefitfocus announcement comes just a bit over a month after PayActiv raised $100 million by way of its Collection C funding spherical, which was led by Eldridge and consists of current PayActiv shareholders Era Companions and the Ziegler Hyperlink•Age Fund II.
As previously reported, PayActiv describes itself as a holistic monetary wellness platform for workers to get on-demand entry to earned however unpaid wages. The corporate claims that companies that use its companies see important price reductions by way of elevated engagement and retention.
“PayActiv is one of the simplest ways for workers to get monetary aid between paychecks, a service wanted by two-thirds of the workforce. We give companies the instruments important to ease the monetary stress of their workers and construct the next performing workforce.”
PayActiv additional revealed that it at the moment serves greater than 4 million workers at over 1,000 companies throughout retail, meals companies, enterprise processing companies, and over 400 senior residing and healthcare companies. Its purchasers embody Walmart, Wayfair, Ibex International, and plenty of others.