Trending...
- Adostics & Genmega Announce the Introduction of A-POD
- Robin Launches Legal Intelligence Platform to solve intelligence gap in Fortune 500 legal teams
- Heritage at South Brunswick Offers Immediate Townhome Appointments and Special Mortgage Incentive Fast-Moving Sales
BETHESDA, Md.--(BUSINESS WIRE)--Employee Navigator, a leading benefits administration & HR software provider, announced it has raised $34 million in growth equity funding from JMI Equity. The minority investment will go towards hiring across all functions and expanding Employee Navigator's product offerings.
The company began licensing its benefits and HR products to insurance brokers in 2012 and has expanded its offerings to partner with the nation's leading insurance carriers, payroll companies, and third-party administrators (TPAs) to provide a unified benefits and HR solution. Employee Navigator's growth has accelerated over the past few years; they now support over 2,000 of the nation's leading insurance brokers, over 50,000 employers, and over 10 million employees and dependents.
"As our business matured, we became convinced of the opportunity to sustainably build a substantial company supporting our core market," said George Reese, Founder and CEO of Employee Navigator. "We believe there is a need for an agnostic company to bring the benefits ecosystem stakeholders together, and we are confident Employee Navigator can be that trusted partner. We have come to know JMI very well over the last two years and feel they are the ideal long-term partner for our business goals. Ultimately, this was an opportunistic fundraise as we've been profitable since 2015 and continue to grow profitably despite the COVID-19 headwinds, and we are excited to deliver more great products and services to our customers and partners."
More on Marylandian
"George and the Employee Navigator team have built a resilient business well-positioned for accelerated growth, as demonstrated by their record new business and profitability through COVID," said David Greenberg, General Partner at JMI Equity. "The Company has established itself as a leader in the benefits administration software space, with impressive employee scale on the platform and some of the most positive customer and partner reference calls we have ever completed. Most importantly, George and the team have the deep insurance industry experience that is crucial to sustained success in this space. We are incredibly excited to partner with Employee Navigator and support their compelling long-term vision."
About Employee Navigator
Employee Navigator is a rapidly growing benefits, compliance, and HR software provider. The company currently works with more than 2,000 industry-leading brokers nationwide, providing benefits administration and HR products to over 50,000 companies and 10 million employees and dependents.
More on Marylandian
Employee Navigator has also been named a Top Workplace by the Washington Post in 2017, 2018, 2019 and 2020. For more information, visit www.employeenavigator.com
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 150 businesses in its target markets, successfully completed over 100 exits, and raised more than $4 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.
The company began licensing its benefits and HR products to insurance brokers in 2012 and has expanded its offerings to partner with the nation's leading insurance carriers, payroll companies, and third-party administrators (TPAs) to provide a unified benefits and HR solution. Employee Navigator's growth has accelerated over the past few years; they now support over 2,000 of the nation's leading insurance brokers, over 50,000 employers, and over 10 million employees and dependents.
"As our business matured, we became convinced of the opportunity to sustainably build a substantial company supporting our core market," said George Reese, Founder and CEO of Employee Navigator. "We believe there is a need for an agnostic company to bring the benefits ecosystem stakeholders together, and we are confident Employee Navigator can be that trusted partner. We have come to know JMI very well over the last two years and feel they are the ideal long-term partner for our business goals. Ultimately, this was an opportunistic fundraise as we've been profitable since 2015 and continue to grow profitably despite the COVID-19 headwinds, and we are excited to deliver more great products and services to our customers and partners."
More on Marylandian
- Maryland: Pesticide Advisory Committee Meeting Notice
- Maryland Horse Industry Board Meeting Notice
- Smart Resnse Unveils Smart Resnse(SRMS) Token-Powered AI Orchestration Platform to Revolutionize Multi-Billion Dollar Market
- Josh and Heidi Follow Up the Much Anticipated and Successful Launch of the "Spreading the Good BUZZ" Podcast with a Personal Request
- Local Filmmaker Brings Folklore and Film to Her Own Backyard in Silver Spring
"George and the Employee Navigator team have built a resilient business well-positioned for accelerated growth, as demonstrated by their record new business and profitability through COVID," said David Greenberg, General Partner at JMI Equity. "The Company has established itself as a leader in the benefits administration software space, with impressive employee scale on the platform and some of the most positive customer and partner reference calls we have ever completed. Most importantly, George and the team have the deep insurance industry experience that is crucial to sustained success in this space. We are incredibly excited to partner with Employee Navigator and support their compelling long-term vision."
About Employee Navigator
Employee Navigator is a rapidly growing benefits, compliance, and HR software provider. The company currently works with more than 2,000 industry-leading brokers nationwide, providing benefits administration and HR products to over 50,000 companies and 10 million employees and dependents.
More on Marylandian
- Revolutionary Blockchain Platform Okh Finance Announces Okh Finance(OKKH) Token Launch to Transform Global Asset Leasing Market
- Cover Girl Finalist Teisha Mechetti Questions Legitimacy of Inked Originals Competition, Demands Transparency
- Easton & Easton, LLP Files Suit Against The Dwelling Place Anaheim & Vineyard USA Over Abuse Allegations
- AI Visibility: The Key to Beating Google's AI Overviews and Regaining Traffic
- Stuck Doing Math or Figuring Out Life's Numbers? Calculator.now Makes It Stupidly Simple
Employee Navigator has also been named a Top Workplace by the Washington Post in 2017, 2018, 2019 and 2020. For more information, visit www.employeenavigator.com
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software companies. Founded in 1992, JMI has invested in over 150 businesses in its target markets, successfully completed over 100 exits, and raised more than $4 billion of committed capital. JMI partners with exceptional management teams to help build their companies into industry leaders. For more information, visit www.jmi.com.
Filed Under: Business
0 Comments
Latest on Marylandian
- Heritage at South Brunswick Offers Immediate Townhome Appointments and Special Mortgage Incentive Fast-Moving Sales
- NASA Collaborative Agreement for Supply of Thin-Film Solar Tech for Orbital Application to Advance Development of Thin-Film PV Power Beaming: $ASTI
- Exciting New Era of Sports, Entertainment & Gaming Innovation Spotlighted by Rebrand of Expanding AI Driven, Online Fan Engagement Company: SEGG Media
- VFAF MD State Chapter Joins Texas Flood Relief Ops said Stan Fitzgerald Veterans for America First
- Service Ninjas Debuts First-of-Its-Kind "Membership" Platform for Home Service Pros
- Bruce In The USA Brings Immersive Bruce Springsteen Celebration to Frederick This October
- BIYA Forecasts 2025 Surge with ¥300M ($41.8 M USD) in Revenue and ¥25M Profit from Cloud Based HR Solutions: Baiya Intl. Group (N A S D A Q: BIYA)
- Paul E. Saperstein Co. Announces Geographic Expansion of Auction Services
- Florida Broker Bent Danholm Featured in the Daily Mail's U.S. Real Estate Coverage
- Robin Launches Legal Intelligence Platform to solve intelligence gap in Fortune 500 legal teams
- Melissa B. Releases Digitally Independent: Empowering Music Artists with AI and Brand Strategy
- Consumer Accountability Alliance Issues Formal Notice Alleging Proximate Liability for Medical Harm
- Utah Metal Fabricator Titan Forge Builds Momentum with Custom Steel Projects and Spiral Staircases
- Jason Koch: Pioneering the Future of Real Estate Development in New Jersey
- Bach and Beyond: Cellists Return to the Beach for 2nd Annual Bethany Beach Cellofest
- NR7 Miner launches zero-cost USDT cloud mining service: daily stable income + referral rewards for double profit
- Deaths Spur Closures, but Troubled Teen Camps Must Be Banned, CCHR Warns
- Palmer Lake Wine Festival To Build Bridges in Small Mountain Community, Highlight Local Businesses
- SacraPod Suites Unveils AI-Powered 'Work + Rest' Smart Hospitality Model for Retrofitting Underused Motels Across the U.S
- From Real Estate to Reel Power: H.L Woods Carves His Legacy as a Cutting-Edge Visionary Filmmaker