Benivo, a London, UK-based end-to-end employee mobility management platform, announced a $12 million funding.
The round was led by Updata Partners, a growth equity investment firm focused on business-to-business software.
With this new capital, Benivo will grow its teams in the US, UK, Armenia, and India, and continue to expand its unified mobility solution to address the industry's key pain points.
"This is an exciting moment for Benivo that recognizes our hyper-growth in the last 2 years. I would like to express a special thank you to the Benivo Changemakers, Benivo employees, and our clients for their trust, advice, commitment and support to bring us here. This is an important milestone, and we are just starting!"Nitzan Yudan, CEO of Benivo, said.
Benivo is on a mission to help Global Mobility leaders provide more value to their organizations by leveraging purpose-built software and industry data. With Updata's investment, Benivo will accelerate customer acquisition and continue providing cutting-edge technology to mobility teams worldwide.
As part of this deal, Braden Snyder, Partner of Updata Partners, will become a member of the Benivo Board of Directors.
Company: Benivo Limited
Round: Growth Equity
Funding Month: September 2022
Lead Investors: Updata Partners
Company Website: https://www.benivo.com/
Software Category: Employee Mobility Management
About the Company: Benivo provides a software platform for mobility teams at the world's largest companies to manage their globally mobile workforce and programs. The Benivo global mobility management platform allows customers to manage HR-employee-vendor processes, power any relocation policy (VIP, core flex, lump sum, managed service, and more), and quickly and cost-effectively execute employee and vendor payments. As an industry innovator, Benivo recently released an unlimited cost estimation solution powered by Vialto Partners, which adds AI-powered expense reimbursement to its product suite. Serving the global fortune 1000 since 2011, Benivo has a client NPS of 70, client employee experience improvement >50%, and has earned 11 industry awards, including multiple wins for the best technology in Global Mobility. Its clients include Google, General Electric, Bayer, CGI, and Wayfair.