Fringe operates a marketplace that lets employees pick and choose customizable perks and benefits, consolidating stipends and reimbursements into a point-based system. The platform hosts roughly 450 vendors, including DoorDash, Uber, Airbnb, virtual fitness, virtual coaching, online therapy, streaming services, and food and grocery delivery. Fringe charges employers $5 per employee per month (with lower rates for larger organizations) and negotiates discounts of 10–60% that it passes to employees via a rebate system. The company serves more than 200 customers, including Chegg, Lemonade and Shipt, and recently signed a partnership with Alight to bring its platform to large enterprise customers. Founded in 2018 by Jordan Peace with college friends Jason Murray, Isaiah Goodall, Andrew Dunlap and Chris Luhrman, Fringe has grown to 72 employees and plans to expand headcount to over 100 by year-end while continuing product development. CEO Jordan Peace declined to disclose revenue, and the company plans to expand into additional countries as pandemic-driven demand for location-agnostic benefits persists. Fringe offers companies a personalized marketplace where employer-provided dollars are converted into points that employees can spend on subscription services and apps. Employers pay a starting fee of $5 per employee per month (with possible volume discounts), and Fringe negotiates discounts of roughly 10%–60% from service partners and passes value back via points. The marketplace includes about 135 service partners in the U.S. and several hundred more overseas; offerings include streaming, virtual fitness and therapy, food delivery, child care and more. Fringe launched in 2019 and saw pandemic-driven demand spike: it grew from 15 clients at launch year-end to over 70 employers and 12,000+ users by the end of 2020, and expects to exceed 100,000 users this year; team headcount is around 20. Product plans include website updates (automatic point gifting, charitable giving, Slack integrations, improved navigation) and building tech to enable additional use cases over the next 12–18 months. With recent funding activity, the company has raised a total of $4 million to date.

Total raised

$19M

Funding rounds

2

Latest round

Equity

Latest activity

Nov 2022