Employee benefits or non-wage compensation is growing in importance and the pandemic has further solidified this trend as employees are re-evaluating their relationship with work. For example, there’s been a pronounced increase in interest in financial health, mental wellbeing, caretaking, and wellness options. Technology has enabled benefits selection and redemption to be a family-wide affair where partners can be included in the decision-making process. Benepass is an employee benefits management platform and card that can manage all benefits, meeting the needs of both employers and employees. The platform allows employers to easily integrate all their pre-tax benefits given to employees along with perks into a unified mobile app and card that gives employees the flexibility to easily access and utilize their benefits. Without Benepass, HR teams were forced to provide a disparate experience to employees, encompassing several benefit providers without a unifying resource or any personalization options. The company’s benefit card is usable everywhere VISA is accepted. In an era where the competition for talent has become relentless, Benepass is ensuring that company’s have benefits management solidified for their workforce.
AlleyWatch caught up with Benepass CEO Jaclyn Chen to learn about how she successfully navigated the fundraising process while serving on a grand jury, the company’s strategic plans, and latest round of funding led by Threshold Ventures.