# Benefitbay

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/benefitbay

- Industry: Software
- Headquarters: Kansas City, US
- Website: www.benefitbay.com
- Total disclosed funding: $27M
- Latest round: Series A (May 21, 2026)
- Investors on record: 6

## About

Based in Kansas City, US, and founded in 2021, Benefitbay provides full-service suite technology for employee benefits. The company was founded by its CEO Brandy Burch. In May 2026, benefitbay raised USD 18 million in series A funding led by Ten Coves Capital, with participation from KCRise Fund.

The company offers individual coverage, and health reimbursement arrangement administration platforms for brokers, employers, and employees. The firm’s platform enables employers to reimburse employees for their individual health plans at the same time they can maintain the tax advantage of a group insurance policy. The firm ICHRA technology includes Fulcrum which solves real-time modeling and compliance, advance reimbursement checking, and subsidy advantage.

Benefitbay generates revenue through subscription and platform fees associated with its ICHRA administration software and related benefits management services. The company earns revenue by providing employers, insurance brokers, and employees with technology for plan modeling, enrollment, compliance administration, reimbursement processing, payment infrastructure, carrier integration, payroll integration, and ongoing healthcare benefits management. Additional revenue is derived from value-added platform services that support employee enrollment, plan selection, benefits administration, and healthcare payment workflows.

The company plans to use the Series A proceeds to expand its payments infrastructure, deepen carrier and payroll integrations, enhance broker enablement capabilities, broaden payment functionality beyond medical benefits, and develop employee care navigation and healthcare decision-support tools.

## Funding rounds

- Series A, May 21, 2026, $18M — KCRise Fund, Ten Coves Capital
- Seed, Aug 29, 2025, $7M — Allos Ventures, Right Side Capital Management, Gamson Family Trust
- Seed, Apr 1, 2024, $1.2M — Allos Ventures
- Seed, Feb 16, 2023, $1.3M — Right Side Capital Management, Comeback Capital

## Investors

- Right Side Capital Management (https://capitalatlas.ai/funds/right-side-capital-management) — Seed
- Comeback Capital (https://capitalatlas.ai/funds/comeback-capital) — Seed
- Allos Ventures (https://capitalatlas.ai/funds/allos-ventures) — Seed
- Gamson Family Trust — Seed
- KCRise Fund (https://capitalatlas.ai/funds/kcrise-fund) — Series A
- Ten Coves Capital (https://capitalatlas.ai/funds/ten-coves-capital) — Series A