Espresa, a Palo, Alto, CA-based personal benefits platform designed for global enterprises, has raised $23 million in Series A funding.
SaaS Investors
The round was led by Clear Ventures.
Founded in 2014, Clear Ventures is a venture capital firm based in Palo Alto, California. The firm specializes in seed, early-stage companies focused on sectors like technology and services.
Espresa Use of Funds
The company plans to use the funds to scale and expand sales and marketing, develop the platform, and build a global support infrastructure.
About Espresa
Founded in 2015 by Alex Shubat and Raghavan Menon, Espresa provides a personal benefits platform engineered to help HR and Benefits teams streamline and modernize their offerings. The company's unique approach, which blends traditional well-being benefits with Lifestyle Spending Accounts, allows employers to drive employee engagement and personalized well-being while simplifying the benefits landscape. Espresa has served hundreds of thousands of users on the platform across diverse sectors spanning tech, consumer, healthcare and pharma, financial services, media, agriculture, law, manufacturing, and construction. Companies like Avalara, Cadence, Flex, Nielsen, Jazz Pharmaceuticals, Prudential, Unisys, and The Wonderful Company use Espresa's global platform to modernize their benefits offerings and improve employee experiences.
Funding Details
Company: Espresa, Inc.
Raised: $23.0M
Round: Series A
Funding Month: October 2023
Lead Investors: Clear Ventures
Additional Investors:
Company Website: https://www.espresa.com/
Software Category: Personal Benefits Platform
Source: https://www.prnewswire.com/news-releases/espresa-raises-23-million-series-a-funding-to-transform-personal-benefits-for-global-workplaces-301972125.html