Ben raises $16 million

London-based employee benefits platform Ben has raised $16 million in a Series A round led by Atomico, with participation from existing investors Cherry Ventures, Seedcamp, and DN Capital.

Founded in 2019, Ben’s platform allows companies to create a custom employee benefits package from a variety of options that suits their employees. Workers can then choose the benefits they want (health insurance, life insurance, counseling, a subscription to their favorite meditation app) and spend their leftover allowance with the Ben Mastercard.

“The challenge of managing benefits has become increasingly difficult for companies with a global workforce, especially given the ongoing war for top talent. The status quo is ‘one-size-fits-most’ benefits packages, that are managed in spreadsheets in an archaic and largely manual manner. Ben’s unique platform massively reduces the admin burden on HR and seamlessly delivers benefits that employees really care about. This flexibility is crucial in the current macroeconomic environment, where company performance and productivity is (sic) heavily reliant on employee satisfaction and retention.” – Sasha Vidiborskiy, Atomico’s.