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Company Operating Status
Founder
Parker Conrad - Cofounder and CEO
Laks Srini - Cofounder and CTO
Overview
Affordable benefits for your company in minutes.
cloud-based software for areas of HR like onboarding, payroll, benefits like insurance. They were a licensed insurance broker. It offers a payroll processing solution that enables companies to manage employee compensation and benefits through a central interface. It also provides a synchronization tool that works with third-party services such as Intuit Payroll, ADP, and Zen Payroll. They helped streamline payroll and HR functions.
Y-Combinator-backed startup makes managing corporate benefits easier than ever. Buying insurance traditionally required business owners sitting down with an insurance agent who gives them a few plans to select from. Because of the time it takes for brokers to research each plan, business owners often miss out on the highest value plans by seeing only a fraction of the options available to them. Once selected, the deal is completed offline, with a flurry of back-and-forth paperwork.
Investment Details
Wefunder's site states $50,000 raised from 9 investors May 2013
$372k seed funding from Andreessen Horowitz, Yuri Milner, General Catalyst, Garry Tan, Justin Kan and Alexis Ohanian
$17 million in its Series A round of funding in January 2014,
$61 million Series B financing.
$500M Series C by Fidelity at a $4 billion valuation
Acquired by Trinet
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