Kota, formerly known as Yonder, raises 5 million to automate employee benefits

new.blicio.us Follow Oct 25, 2023 · 1 min read
Kota, formerly known as Yonder, raises 5 million to automate employee benefits
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The Irish firm known as Kota is revolutionizing the intricate and heavily paper-based core benefits space with a platform that makes the process incredibly simple, allowing businesses of all sizes to be up and running in under ten minutes. Growing businesses like &Open, Spotlight Oral Care, Unmind, and Fonoa are examples of current clients. With coverage in more than 30 nations, Kota is modernizing the $42.1 billion employee benefits market, beginning in Europe. By providing the platforms and companies with the necessary infrastructure and tools to cover their teams, Kota is expanding access to high-quality financial benefit products for a generation that has been underserved by legacy systems.

The latest seed round landed them €5 million, iniciated by EQT Ventures. With the other prominent investors in the round that was oversubscribed are Job Van Der Voort , Romain Huet (previously of Stripe, and David Clarke (formerly of Workday), and others. This confirms that big Silicon-Valley tier companies may soon be adopting such technology.

Kota, having launched in 2022, provides global access to health, life, and retirement providers with flexible contribution options, real-time enrollment, and an employee app. It integrates with leading providers like Irish Life, Allianz Partners, Smart Pension, and other HR software, simplifying global benefit administration and reconciliation.

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