# Elevate CDB

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/elevate-cdb

- Industry: Software
- Headquarters: Denver, US
- Website: www.elevate.inc
- Total disclosed funding: $31M
- Latest round: Series A (Mar 28, 2023)
- Investors on record: 6

## About

Based in the US, Elevate CDB, Inc. specializes in AI-powered benefits administration software solutions, enhancing the management of employee benefits for organizations across the country.Founded in 2020, Elevate CDB, Inc. is headquartered in Denver, US. The company focuses on developing innovative solutions for employee benefit accounts. Co-founders Amir Zandifar, Brian Cosgray, and Brian Strom have previously been involved in other ventures. Elevate has completed 6 deals, with its most recent funding occurring on October 29, 2024, during a GROWTH round, raising USD 20.00 mn led by Fin Venture Capital, supported by Anthemis Group and SaaS Ventures. The total amount raised to date is USD 20.00 mn.Elevate specializes in AI-powered benefits administration software solutions tailored for employee benefit accounts, including Health Savings Accounts (HSAs), Flexible Spending Accounts (FSAs), Health Reimbursement Arrangements (HRAs), Dependent Care Assistance Plans (DCAPs), and various commuter lifestyle programs. The automated platform simplifies management for account administrators and integrates seamlessly with existing systems, serving thousands of employers and supporting hundreds of thousands of American workers.Elevate's revenue model is centered around B2B partnerships and subscriptions for its benefits administration platform. Employers and third-party administrators access Elevate's software through a subscription-based structure. The platform supports various plan types, streamlining benefits management without disclosing specific pricing details. Clients benefit from continuous support and updates as part of their ongoing service agreements.In October 2024, Elevate CDB, Inc. raised USD 20.00 mn in GROWTH funding, which will be utilized to advance automation and enhance user experience while supporting key partners. The company aims to introduce new features that will improve efficiency. While specific new products have not been detailed, Elevate is expected to explore further market expansions to enhance its reach within the U.S. market.

## Funding rounds

- Series A, Mar 28, 2023, $16M — Norwest Venture Partners, Greycroft, Anthemis, Bowery Capital, Firebolt Ventures, Fin Capital
- Series A, Jul 1, 2021, $12M — Norwest Venture Partners, Greycroft, Bowery Capital
- Seed, Jan 1, 2021, $3M — Bowery Capital

## Investors

- Bowery Capital (https://capitalatlas.ai/funds/bowery-capital) — Seed, Series A
- Norwest Venture Partners (https://capitalatlas.ai/funds/norwest-venture-partners) — Series A
- Greycroft (https://capitalatlas.ai/funds/greycroft) — Series A
- Anthemis (https://capitalatlas.ai/funds/anthemis) — Series A
- Firebolt Ventures (https://capitalatlas.ai/funds/firebolt-ventures) — Series A
- Fin Capital (https://capitalatlas.ai/funds/fin-capital) — Series A