Employee Navigator, a provider of benefits administration and HR software, has completed a $100 million funding round from its existing investors, JMI Equity and Spectrum Equity.
The investment was used to fund a subsequent $120 million tender offer, which provided liquidity to existing shareholders, including early-stage investors from both Employee Navigator and Enrollease, Inc., a company it acquired in 2023.
Since its founding in 2008, Employee Navigator has experienced significant growth. It now supports over 180,000 U.S. employers, 13 million employees, and more than 5,000 insurance brokers. The company has expanded its offerings from a simple online enrollment system to a comprehensive platform that integrates with major insurance carriers, payroll companies, and third-party administrators.
KEY QUOTES:
“Over the last two years our teams have been focused on feature parity between the Ease and Employee Navigator platforms and delivering on our commitment to our customers to bring the best of the Ease and Employee Navigator systems together. Looking to the future, our roadmap includes improved support for large employers for whom we can provide superior products at a much lower cost. We are also strategically focused on AI-driven applications, helping brokers scale their internal operations, and developing complementary products for HR departments that are using Employee Navigator.”
Employee Navigator Founder and CEO, George Reese
“Since our initial investment in 2020, we have only become more confident in the disciplined strategy and execution of George Reese and the Employee Navigator team, and we were excited about the opportunity to invest further in the company. With over 180,000 U.S. employers and growing, the team has consistently proven its ability to deliver market leading benefits and HR products. We are confident the company will continue to drive compelling, long-term growth and profitability.”
Dave Greenberg, Partner at JMI Equity
“When Employee Navigator approached us to acquire Ease, they presented a strategic plan for the combined businesses that they have exceeded. We are thrilled to be making a further investment in Employee Navigator.”
Vic Parker, Managing Director at Spectrum Equity
