Funding news
benefitbay® logo

benefitbay® Secures $18.0M

Recently funded · $18.0M Series aHospitals and Health CareUSView source

Get the full benefitbay® company profile

Access contacts, investors, buying signals & more

Open in Dashboard

Benefitbay®, a platform designed to streamline the deployment of Individual Coverage Health Reimbursement Arrangements (ICHRA), has closed its Series A funding round, raising $18.0M. The investment, led by Ten Coves Capital, will support the company's mission to simplify ICHRA adoption for employers, brokers, and employees.

The company's SOC II Type II certified platform helps companies of all sizes easily model, deploy, and oversee ICHRA plans, which allow employers to provide tax-free dollars for employees to choose their own health coverage. This approach is seen by experts as a critical shift in the benefits industry, offering employees greater flexibility and portability.

From the source

Brandy · May 21, 2026

We started benefitbay® because we believed employees deserved better than a one-size-fits-no-one health plan.    When you look at how healthcare is paid for in this country, the math simply stopped working for employers a long time ago.

But more importantly, the experience stopped working for the people actually using the healthcare.   Today, we are announcing an $18 million Series A led by Ten Coves Capital, on the heels of our raise from KCRise Fund in late March.   This is a massive milestone for our team. But what matters most is what this capital allows us to build.   We are scaling the financial infrastructure that makes de

Unlock the full source

CEO quotes, investor details and growth metrics

Start free trial

Other United States companies recently funded

View all

Biggest recent Insurance rounds

Largest funding rounds in Insurance on Signalbase right now.

#CompanyAmount
1
Principal Financial Group logo

Principal Financial Group

United States

$3.6B
2
Insignia Financial logo

Insignia Financial

Australia

$2.9B
3
Federation Of Afro Asian Insurers & Reinsurers - FAIR logo

Federation Of Afro Asian Insurers & Reinsurers - FAIR

Egypt

$2.1B
4
Next Insurance logo

Next Insurance

United States

$2.0B
5
Insignia Financial logo

Insignia Financial

Australia

$1.9B

Other recent Series a rounds

Companies that recently closed a Series a round.

#CompanyAmount
1
Aboard logo

Aboard

United States

$13.0M
2
H Company logo

H Company

France

$12.0M
3
Prelude logo

Prelude

$18.7M
4
ClearOps logo

ClearOps

Germany

$8.6M
5
Vector AI logo

Vector AI

Germany

$10.0M