Benepass Is Named a Rising Star on the Forbes 2022 Cloud 100 List
The Rising Stars are young, high-growth, and category-leading cloud companies that have raised up to $25 million to date.
Our 2023 Benepass Benefits Benchmarking Guide reveals insights on top pre-tax and perks programs, average stipend contributions, and benefits design so you can design more competitive benefits.Get the guide
We’re excited to announce that Benepass was named one of the 20 Rising Stars as part of the seventh-annual Forbes 2022 Cloud 100 list. Published by Forbes in partnership with Bessemer Venture Partners and Salesforce Ventures, the list recognizes the world’s top 100 private cloud companies. The 20 Rising Stars represent young, high-growth, and category-leading cloud companies that have raised up to $25 million to date and are poised to join the Cloud 100 ranks.
“The Rising Stars of today are the Cloud 100 companies of tomorrow,” said Mary D’Onofrio, partner at Bessemer Venture Partners. “We believe cloud entrepreneurs all over the world can build novel and enduring businesses, despite market conditions or challenging headwinds. The 2022 Rising Stars are no different as they cultivate amazing teams, gain momentum, and go on to ramp toward Centaur status. Being named a Rising Star is an opportunity for the cloud community to celebrate the impact these entrepreneurs are making and the bright futures ahead of them.”
We started Benepass with a bold mission: to reimagine how companies take care of their people. Over the last few years, there’s been a massive shift in how people think about their relationship to work. Employees want to join organizations that prioritize wellness, flexibility, and work-life balance. In the war for talent, companies that ignore this are losing to those that emphasize these priorities through strong culture and supportive employee benefits.
The idea of offering employees benefits is nothing new, but in today’s hybrid and remote-first environment, traditional one-size-fits-all benefits packages no longer cut it. Every employee has their own individual definition of wellness and needs different things to help them be their most productive, fulfilled self.
With Benepass, companies can tailor their benefits to the unique needs of their workforce. Through our easy-to-use and highly customizable fintech platform, People teams can implement, administer, and track the modern benefits that their employees are looking for. It’s simple: Employers design their benefits and perks plan by setting a contribution amount and eligible spend categories. We then link to their payroll system for automated directory sync and enrollment. Finally, employees receive a Benepass card and access to our app so they can start using their benefits on day one.
Traditional benefits programs often suffer from poor engagement because it can be confusing for employees to know how to access their benefits if they’re scattered across many different vendors. With Benepass, companies are seeing engagement rates of over 80% because it’s easier for employees to access their benefits, and they also have more freedom to spend their benefits in ways that make the most sense for them and their families.
We’re thrilled that this award highlights the power of this simplified, personalized approach to employee benefits and are honored to be among the other amazing companies innovating their industries through cutting-edge tech.
As we look ahead, we’re always looking for ways to improve the process of delivering flexible benefits to employees. Although we’ve come a long way, we’ll continue to enhance the employee experience of Benepass and equip People teams with powerful admin capabilities.
We recently updated our employee web app to make it easier for employees to navigate between perks and pre-tax benefits, see their card details, get an overview of spending, manage their HSA, and get notified of account activity. We also recently launched Reimbursement Payouts, an in-app hub designed to provide more visibility into the status of reimbursements.
These updates push us further toward our goal of helping companies deliver flexible benefits that delight their employees. We’re excited for what’s next and can’t wait to partner with more people-first companies that are leading the future of work. Reach out to us at firstname.lastname@example.org if you’re interested in learning more, and read up on some other recent awards: