Founded in 2019, Benepass offers a proprietary ledger-based platform that consolidates and administers employer benefits programs across multiple currencies and tax treatments. The system enables companies to configure Health Savings Accounts, Flexible Spending Accounts, and a variety of reimbursement wallets while tightly controlling eligible spend categories. To date the platform has processed more than 4.5 million card transactions and is used by over 250 employers worldwide. Internal data show the company’s revenue more than doubled between January 2025 and January 2026, reflecting strong customer adoption. Looking ahead, Benepass plans to deepen its Health Savings Account capabilities and roll out Specialty Health Reimbursement Accounts that target high-cost therapies such as GLP-1 medications. It will also invest in employee outreach features to boost participation in pre-tax programs, lowering taxable income for employees and payroll taxes for employers. The company is a Workday Wellness strategic partner, underscoring growing enterprise demand for its flexible, compliant infrastructure.

Total raised

$74M

Funding rounds

4

Latest round

Series B

Latest activity

Jan 2026