# Brightside Benefit

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/brightside-benefit

- Industry: Software
- Headquarters: Scottsdale, US
- Website: www.gobrightside.com
- Total disclosed funding: $72M
- Latest round: Series B (Nov 10, 2022)
- Investors on record: 6

## About

Brightside Benefit, Inc. provides innovative financial wellness solutions, empowering employees to manage their financial health through personalized assistance and support services.Brightside Benefit, Inc. is a financial wellness company founded in 2017 in Scottsdale, Arizona, US. The company was established by Callum King, Georgina Noakes, Jacky Chiu, and Tom Spann, who serves as CEO. Brightside has successfully raised USD 33.00 mn in Series B funding as of November 10, 2022, led by Obvious Ventures and supported by other investors including Alumni Ventures Group and Andreessen Horowitz. The total amount raised by the company to date is USD 33.00 mn, with a current valuation of USD 175.369 mn.Brightside Financial Care offers a comprehensive suite of financial wellness solutions designed to assist employees in effectively managing their financial lives. Their core services include personalized financial assistance, debt management strategies, credit score improvement, and savings solutions. Employees can access emergency financial support for urgent needs such as eviction prevention, food insecurity, and unexpected medical expenses, with a particular focus on maintaining confidentiality and judgment-free engagement. Brightside serves a diverse clientele across various industries, including healthcare and retail, providing essential financial care through partnerships with employers.Brightside generates revenue through partnerships with employers who offer its financial care services as an employee benefit. The company structures its transactions based on B2B relationships, wherein employers pay for the services provided to their employees, creating a seamless integration into existing employee benefits. Brightside’s offerings are provided at no direct cost to employees, emphasizing accessibility for users regardless of their financial situations. This approach facilitates a strong value proposition for employers seeking to enhance employee satisfaction and retention. The financial services provided, including emergency assistance, debt negotiation, and savings programs, establish Brightside as a key player in the financial wellness sector, contributing to its revenue model through employer subscriptions and service agreements.In November 2022, Brightside Benefit, Inc. secured USD 33.00 mn in Series B funding, which will be utilized to expand its business reach globally and enhance its platform by integrating new features. As part of its growth strategy, Brightside aims to introduce upcoming products that are currently in development, though specific release dates have not been disclosed. The company is also looking to expand into new markets, focusing on broader geographic regions to increase its operational footprint.

## Funding rounds

- Series B, Nov 10, 2022, $33M — Trinity Ventures, Andreessen Horowitz, Obvious, Alumni Ventures Group, Clocktower Technology Ventures
- Series A, Jun 16, 2020, $35M — Trinity Ventures, Comcast Ventures, Andreessen Horowitz
- Seed, May 7, 2018, $4M — Trinity Ventures, Comcast Ventures

## Investors

- Trinity Ventures (https://capitalatlas.ai/funds/trinity-ventures) — Seed, Series A, Series B
- Comcast Ventures (https://capitalatlas.ai/funds/comcast-ventures) — Seed, Series A
- Andreessen Horowitz (https://capitalatlas.ai/funds/andreessen-horowitz) — Series A, Series B
- Obvious (https://capitalatlas.ai/funds/obvious) — Series B
- Alumni Ventures Group (https://capitalatlas.ai/funds/alumni-ventures-group) — Series B
- Clocktower Technology Ventures (https://capitalatlas.ai/funds/clocktower-technology-ventures) — Series B