Kota raises €5 million

Kota, formerly Yonder, has raised €5 million in Seed funding led by EQT Ventures, with participation from Northzone and Frontline Ventures.

Founded in 2022, the Dublin-based startup allows companies to create and manage benefits offerings for their employees. The platform currently supports health insurance and workplace pension, with life insurance launching in the future. Some of Kota’s partners include Irish Life and Allianz Partners.

Kota offers coverage in around 30 countries across Europe.

“Employee health and retirement benefits are the Achilles heel of HR and finance teams. They are managed through spreadsheets, portals and email – completely fragmented, offline and lacking interoperability. This is little surprise given, unlike other areas of HR and Finance where modern tools have revolutionised workflows, this industry is still dominated by old-school brokerages with an admin-heavy model. Kota is first to market with a platform that is automating workflows through data synchronization and reconciliation, integrating with top-tier health, life and pension providers, and ultimately, delivering employees access to the benefits that they deserve.” – Luke Mackey, co-Founder and CEO, Kota.