Employee Navigator, a Bethesda, Maryland–based benefits administration and HR software provider, completed a $100 million funding round.
Investors
The round was funded by existing investors JMI Equity and Spectrum Equity.
JMI Equity (JMI) is a growth equity firm specializing in software companies. For over three decades, it has partnered with founders and management teams to provide capital, expertise, and operational support. JMI has invested in more than 190 software businesses across North America and Europe and has completed over 120 exits.
Spectrum Equity is a growth equity firm providing capital and strategic support to innovative companies in the information economy. For over 30 years, the firm has partnered with exceptional entrepreneurs and management teams to build long-term value in market-leading software, data, and consumer internet businesses. With offices in Boston, San Francisco, and London, the firm is investing its tenth fund with $2 billion in limited partner capital.
Employee Navigator Use of Funds
The investment was used in a $120 million tender offer to provide liquidity to existing shareholders and support the integration of acquired assets, including Ease, while continuing to expand AI-driven applications and HR product offerings.
About Employee Navigator
Founded in 2008, Employee Navigator provides a comprehensive benefits administration and HR software platform, licensing its products to insurance brokers and integrating with major insurance carriers, payroll providers, and third-party administrators. Following its acquisition of Ease in 2023, Employee Navigator now serves over 180,000 U.S. employers, 13 million employees, and more than 5,000 insurance brokers. The platform has evolved from a simple online enrollment system into a full-suite solution that simplifies benefits and HR management. With a focus on AI-driven applications, the company helps brokers scale operations and supports large employers with cost-effective, unified HR solutions.
Funding Details
Company: Employee Navigator
Raised: $100.0M
Round: Minority Investment / Growth
Funding Date: August 2025
Lead Investor: JMI Equity
Additional Investors: Spectrum Equity
Company Website: https://www.employeenavigator.com/
Software Category: Benefits Administration & HR Software / SaaS
Source: https://www.businesswire.com/news/home/20250804784823/en/