# BenefitMall

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

- Industry: Insurance
- Headquarters: Dallas, US
- Website: www.benefitmall.com
- Total disclosed funding: $17M
- Latest round: Series C (Jan 21, 2002)
- Investors on record: 5

## About

BenefitMall, Inc. is a general agency providing comprehensive employee benefits and insurance solutions, specifically tailored for small and large businesses across the United States.Founded in 1979 in Dallas, US, BenefitMall is a general agency specializing in employee benefits and insurance solutions. The company has undergone strategic developments but continues to operate independently. The firm has completed a total of 6 deals, with the most recent funding round being the Series C, raising USD 17.00 mn from investors including Austin Ventures, Humana Ventures, MetLife Services and Solutions, LLC, Morgan Stanley Investment Management, and TCV. Notably, Ethan Shapiro, Hasan Abdullatif, and Jordan Rowley are among the founders, with Scott Kirksey serving as CEO.BenefitMall operates primarily as a general agency providing a broad range of employee benefits and insurance solutions catered to small and large businesses. Their core product offerings include Small Group Benefits Solutions, Large Group Benefits Solutions, and ancillary products designed to support clients in controlling costs while attracting talent. The services are backed by a network of over 200 carrier partners, allowing brokers to access a comprehensive portfolio of health insurance plans, dental and vision coverage, voluntary products, and worksite benefits. BenefitMall's Client Ready Quote System® (CRQS) is a key technology platform that enhances the quoting process, enabling brokers to generate efficient, multi-carrier quotes swiftly. The company serves a diverse clientele, primarily health insurance brokers, across major urban centers in the United States, focusing on providing tailored solutions to meet the evolving needs of their customers.BenefitMall generates revenue through a structured commission-based model, typical in the insurance brokerage industry. The company reported a revenue of USD 200,000,000 for the year 2016. Brokers partner with BenefitMall to access their extensive portfolio, allowing them to offer these solutions to their clients and receive commissions based on the sales of specific insurance plans and services.In August 2022, Truist Insurance Holdings, Inc. agreed to acquire BenefitMall, Inc. from Carlyle Group, with financial terms undisclosed. This acquisition is expected to support Truist in expanding its business solutions. Future growth strategies may include an introduction of new products and expansion into new markets, although specific details about product launches or geographic targets have not been disclosed.

## Funding rounds

- Series C, Jan 21, 2002, $17M — Austin Ventures, Morgan Stanley Investment Management, TCV, Humana Ventures, MetLife Services and Solutions, LLC

## Investors

- Austin Ventures (https://capitalatlas.ai/funds/austin-ventures) — Series C
- Morgan Stanley Investment Management — Series C
- TCV (https://capitalatlas.ai/funds/tcv) — Series C
- Humana Ventures (https://capitalatlas.ai/funds/humana-ventures) — Series C
- MetLife Services and Solutions, LLC — Series C