Elevate, a consumer benefits administration platform, today announced that it raised $28 million in a funding round led by Anthemis with participation from Fin Capital Norwest Venture Partners, Greycroft, Bowery Capital, and Firebolt Ventures.
The new cash, which brings Elevate’s total raised to $43 million, will be put toward product development, hiring and customer acquisition, according to CEO Brian Cosgray.
“Having worked at legacy benefits companies, Elevate’s founding team all saw what the industry lacked — flexible and scalable technology that met the needs of the changing workforce,” he told TechCrunch in an email interview. “These legacy company platforms were built using the best practices twenty years ago, but a lot has changed in two decades. Elevate started from scratch using the best technologies of today, like AI, keeping employee’s needs at its core and delivering on their expectations of a modern experience.”
