Parento raises $5.9 million

Parento, a provider of comprehensive paid parental leave insurance with employee support services, announced an “oversubscribed” $5.9 million Seed II funding round 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. The round brings Parento’s total amount raised to $10.3 million.

Founded in 2019, the NY-based startup allows employers to build a parental leave policy covering 6-16 weeks with 100% pay. The policy works alongside state benefit programs, Paid Family Leave (where available) and an employer’s private short-term disability policy.

“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.” – Dirk Doebler, Founder and CEO of Parento.

“Parento aligns exceptionally well with our thesis of investing in innovative companies that close gaps of access, opportunity, and outcomes for underserved communities by tackling a critical shortfall in the U.S. benefits system, especially for businesses that traditionally lack the resources to offer paid family leave. Their model turns an unpredictable business expense into manageable monthly costs while delivering comprehensive support that helps companies attract and retain talented parents.” – Brandon Boros, Venture Partner with Kapor Capital.

“We’re thrilled to join Parento’s board and support a company that’s tackling one of the most critical workplace equity issues of our time. Parento’s inclusive approach to parental leave, combined with their proven ability to make these benefits accessible to businesses of all sizes, aligns perfectly with our mission to build financial resilience for all Americans. We’re excited to support Parento to democratize parental leave access across industries and enable employees to maintain income stability.” – Tahira Dosani, co-founder and managing partner at ResilienceVC.