Ben, the employee benefits technology company operating under Thanks Ben Ltd., has raised more than $27.5 million (£20.8 million) in a Series B financing to accelerate product development and broaden go-to-market efforts as large employers grapple with the growing complexity of benefits across multiple countries.
The round was led by Mercia Ventures and included participation from existing backers Atomico, Cherry Ventures, DN Capital, and Seedcamp, alongside new backing from QuantumLight Capital, the firm founded by Revolut co-founder Nik Storonsky, according to the company.
Ben positions its platform as an “AI-native” system that consolidates benefits administration into a single environment connecting employers, employees, brokers, and providers. The company says its technology is designed to automate benefits workflows for HR teams, improve cost and utilization visibility for employers, and provide employees with clearer, more personalized guidance on eligibility, enrollment, and usage.
In its announcement, Ben said the new funding will support efforts to scale across additional markets and industries, with a continued focus on making benefits easier to understand and simpler to deliver for global workforces.
The company reports it supports organizations across more than 140 countries and counts customers including Virgin, Trainline, Octopus Energy, and Deliveroo, as it continues to target large employers seeking alternatives to legacy benefits platforms.
