Flock Raises $3.5M Series A Funding from The Hartford & Existing Investors
Flock, the all-in-one software platform to manage human resources (HR), benefits, and compliance, recently announced $3.5 million in Series A financing led by The Hartford with participation from existing investors . The funding will help Flock accelerate market expansion and ongoing development of its leading edge HR and benefits administration platform.
“The funding from The Hartford accelerates our efforts to reduce the administrative burden on employers,” said Flock’s CEO and Founder Raj Singh. “The majority of employers in the U.S. have fewer than 500 employees and they continue to have complex, paper-intensive people processes. Flock’s mission is to eliminate paperwork for employers and provide real, data-backed insights on their workforce and insurance benefits through an integrated software solution.”
The Flock platform supports small-to-midsize employers by connecting insurance carriers, payroll providers, applicant tracking modules, and other crucial systems through the various stages of the employee lifecycle, from hire to retire. Capabilities include on-boarding, background checks, people management, benefits enrollment, payroll integration, and off-boarding. The platform also helps brokers compete with new market entrants and new distribution models by equipping them with a value-add technology solution to bring to their customers along with personalized services and industry expertise.
“We are pleased to partner with Flock to bring a strong technology solution to both our distribution partners and small and midsize employers,” said The Hartford’s Chief Strategy Officer John Wilcox. “The Hartford continues to invest in our group and voluntary benefits’ capabilities through innovative technology and targeted partnerships designed to enhance the customer experience .”
In the short time since launching the platform in mid-2015, Flock counts as its customers and partners the No.1 insurance broker, the No.1 health insurance carrier, and the No.1 payroll provider in the U.S. To sign-up for Flock or for more information, please visit: www.helloflock.com.
PS. Recall 2017 insurance-related investments here.