Elevate, a Denver-based HR startup, has risen $ 12 million In series A financing, to expand the consumer benefit platform.
The turn, led by Greycroft and Norwest Venture Partners, gets a full $ 15 billion grant from the startup. The existing Bowery Capital investor also took part in the round. Sean Jacobsohn of Norwest Venture Partners said about the shift:
“As a first employee at Wageworks, I saw that version 1.0 consumer-driven benefit platforms were just online versions of the same paper-based process that existed on the Internet, which was always a disappointing experience for employees. When I met Brian and Brian and combined their vision with their experience and team, I knew that Elevate was a tremendous opportunity to reshape the industry. ”
Elevate was created by Brian Strom and Brian Cosgray, two entrepreneurs with extensive experience in the industry and leadership positions. The initial mission was to provide employees with a platform that would allow them to see, plan and manage their pre-tax benefits, while giving them greater control over their economic lives. Cosgray referred to this role by saying:
“If one-third of U.S. workers use one or more employer-sponsored benefits, think about what it would be like if we modernized the use experience for employees and employers. .
Platform developed by the website HR the startup has also recently been launched in public, having been in stealth mode for more than a year, allowing the team to tune in and improve on the results. This approach will ensure a better experience and better results for new users, which is essential to help more than 95 million American employees with access to such a planet.