AI benefits platform Ben nets $27.5 million backing

A London-based HR technology company is scaling up after securing fresh funding to help global employers modernise how they manage employee benefits.

Ben, an AI-powered platform designed to simplify benefits administration for multinational organisations, has raised $27.5 million to accelerate product development and strengthen its go-to-market capabilities. 

The Series B round was led by Mercia Ventures, with backing from existing investors including Atomico, Cherry Ventures, DN Capital and Seedcamp, alongside new investment from QuantumLight Capital.

Bosses say the latest investment will support further international expansion, continued product development and deeper partnerships as the company targets large global enterprises.

Sebastian Fallert, co-founder and chief executive of Ben, said: “Employee benefits have never been more important – and never harder for global employers to manage. 

“For years, enterprises have been held back by fragmented systems and manual processes. AI changes that. 

“It gives employers a way to tackle complexity at its source – in the rules, workflows and data that sit between HR, providers and payroll. 

“This investment lets us bring that approach to more markets so benefits teams can spend less time on administration and more time supporting their people.”

The funding follows a period of rapid growth for the company, which now serves enterprise customers across Europe and North America and supports employees in more than 140 countries. 

Revenue has grown more than tenfold since the company’s previous funding round, driven by demand from organisations seeking alternatives to legacy benefits platforms.

Employee benefits typically account for a significant proportion of payroll, yet managing them across multiple countries and regulatory frameworks has become increasingly complex. 

Ben, which was founded in 2019 and works with customers such as Mondelez, Trainline, Octopus Energy, Deliveroo and Zalando, addresses this challenge by consolidating benefits into a single platform that connects employers, employees, brokers and providers.

Its AI-native technology automates administrative tasks, offers real-time visibility of costs and usage, and provides personalised guidance to employees, helping organisations improve engagement and reduce waste.

Jonathan Kruger, venture capital investor at Mercia Ventures, added: “Employee benefits are a huge expense for businesses but the current infrastructure is broken. 

“Ben’s platform brings together employers, employees, brokers and providers to create an intelligent network that delivers value for everyone. 

“The company is growing fast and winning against the big incumbents, and this investment will help to establish Ben as the ultimate platform for modern employee benefit management.

“We’re very excited to be working with Seb, David and the rest of the team, alongside Atomico, Cherry Ventures, DN Capital, QuantumLight and Seedcamp.”

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