BeniPlus has revealed that it has secured a second round of seed funding from partner Global Excel Management, a full-service cost containment, claims management, and medical assistance company.
The funding will allow BeniPlus to continue to develop its unique group benefits product for small businesses, a release said.
"We are very pleased to have had an additional investment from our partners Global Excel Management. Their ongoing support has been integral in helping us to build up our business,” commented BeniPlus co-founder and president Stephen DeKuyper.
DeKuyper added that in addition to Global Excel Management’s investment, BeniPlus is grateful for its partner’s industry and business advice.
“We look forward to building our relationship even further in the future,” the president remarked.
Global Excel Management made its first round of investment in BeniPlus in May 2018. In an earlier statement, CEO Reg Allatt said that Global Excel Management is confident in BeniPlus’s product and the direction the group benefits insurer is taking with its “Benefit Wallet” – a virtual wallet with a set amount of benefits that leaves no room for surprises at renewal time, which means employees get the benefits they want and need and employers only pay for actual claims.
Last month, BeniPlus announced a partnership with digital healthcare platform Tia Health to provide group benefits clients access to virtual medical services. These services include booking doctor’s appointments, speaking to doctors via phone or video, online referrals and prescriptions, and free prescription deliveries.
