Ease, which offers HR and benefits software solution for insurance brokers, insurance carriers, and small businesses, has raked in $41m in a Series C funding round led by Spectrum Equity.
The latest round raises the company’s total funding raised until now to $70m.
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Ease will use the new capital to help SMBs leverage employee data to connect all their systems. It will support hiring plans, including the recent appointment of HR senior vice president Mari Kemp.
The company noted that its mission to digitalise benefits enrolment and management process and increasing employee access to their benefits information has become more significant as employees started working from home due to the Covid-19 pandemic.
Ease co-founder and CEO David Reid said: “This pandemic reinforced an already accelerating trend: companies are becoming increasingly more reliant on digital solutions to conduct business and meet their employees’ needs, and brokers who have not already adopted more modern technology capabilities, are running the risk of becoming obsolete.
“With the support of our investors, we have a clear path ahead to continue to work with forward thinking carriers that are committed to helping SMBs and the millions of people they employ.”
Other investors in the Series C round includes Propel Venture Partners, Centana Growth Partners, Upside Partnership, Compound Ventures, and Freestyle Capital.
As part of the financing, Spectrum Equity’s Vic Parker will join Ease’s board of directors.
Parker said: “Ease has done a brilliant job working with insurance brokers to help even the smallest companies modernise their benefits administration tech stacks. We’re excited to collaborate with David and the Ease team as they continue to provide a unified system of record for critical benefits data accessed by businesses, brokers and insurance carriers.”
Founded in 2012, Ease rolled out its EaseConnect+ offering in 2018. Claimed to be a first-to-market solution, it connects health benefit data of the employees directly to their insurance carriers.
