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Benefitfocus logo — A Voya company

Benefitfocus

A Voya company

Founded 2000 United States Charleston, United States 924 employees Acquired Total: $995.48M Cloud Infrastructure, Health Care +2

General Information

Company Name Benefitfocus
Founded Year 2000
Location United States Charleston, United States
Employees 924
Industries Cloud Infrastructure, Health Care, Insurance +1
Funding Stage Acquired
Business Model SaaS, B2B, B2B2C
Revenue Model Subscription, Service Fee, Tiered Pricing
Social

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About Benefitfocus

Benefitfocus, now a part of Voya Financial, is leveraging its two-decade expertise since its founding in 2000 in the realms of Cloud Infrastructure, Health Care, Insurance, and Human Resources. The company is headquartered in the United States and stands by its mission to enhance life quality through efficient benefits management.

Benefitfocus offers cutting-edge benefits administration technology alongside outstanding customer service to simplify the complexity of benefits systems. Their platforms aim to provide an engaging user experience that drives improved health outcomes.

The company caught the attention of Voya Financial, who made a significant $570.00M acquisition investment in Benefitfocus on 01 November 2022. This acquisition highlights the strategic value and growth potential seen in Benefitfocus's technology and services.

Business keywords: Benefits Management, Cloud-based Platform, Health Care Administration, Benefits Administration Technology, Employee Engagement, Benefits Enrollment, Benefits Management Platform, Innovative Technology, Consumer Benefits Management, Benefits Integration, Engagement Solutions, Health Outcomes Improvement, Employee Education

Services & Products

Benefits Program Management
Billing & Payroll Solutions
Data Analytics Services
Employee Engagement Tools
Compliance Solutions

Target Customers

Employers Health Plans Brokers & Consultants Employees

Funding Rounds & Investors (6)

View All
Funding Stage Amount Investors Lead Investors Date
Acquisition $570.00M 1
Voya Financial
01 Nov 2022
Post-IPO Debt $140.00M -
01 Aug 2022
Post IPO Convertible $80.00M 1
BuildGroup
BuildGroup
01 May 2020
Post-IPO Equity $74.70M -
01 Mar 2015
IPO $130.78M -
01 Sep 2013
Early VC Undisclosed 1
Goldman Sachs
Goldman Sachs
01 Feb 2007

Benefitfocus Alternatives & Competitors

View All Alternatives
Benefitfocus vs
PeopleKeep
PeopleKeep United States

PeopleKeep helps organizations offer hassle-free health benefits their employees love, like HRAs.

Venture round
27 employees
Health Care, Human Resources
Compare Benefitfocus vs PeopleKeep
Benefitfocus vs
Onsurity
Onsurity India

India’s highest-rated employee wellness partner | Making benefits the new basics at work

Series B
419 employees
Health Care, Insurtech
Compare Benefitfocus vs Onsurity
Benefitfocus vs
Edge Insurance Group
Edge Insurance Group United States

Benefits only agency dedicated to understand our clients goals to help build a comprehensive employe...

10 employees
Financial Services, Insurance
Also compare with: Benefitfocus vs Zywave Zywave View all alternatives

FAQ About Benefitfocus

A Voya company
Benefitfocus was founded in 2000.
Benefitfocus is headquartered in Charleston, United States.
Benefitfocus operates in Cloud Infrastructure, Health Care, Insurance and Human Resources. Its work centres on Benefits Management, Cloud-based Platform, Health Care Administration and Benefits Administration Technology. Its customers include Employers, Health Plans and Brokers & Consultants.
Benefitfocus has a SaaS, B2B and B2B2C business model. Its revenue comes from Subscription, Service Fee and Tiered Pricing.
Benefitfocus has approximately 924 employees.
Benefitfocus has completed 6 funding rounds, raising a total of $995.48M. The latest funding stage is Acquired.
Benefitfocus offers: Benefits Program Management, Billing & Payroll Solutions, Data Analytics Services, Employee Engagement Tools, Compliance Solutions.
Top alternatives and competitors to Benefitfocus include PeopleKeep, Onsurity, Edge Insurance Group, Diversified Group, Paytient. These companies operate in related industries and serve comparable markets. You can compare them side by side on Bounce Watch.
Benefitfocus and PeopleKeep are both companies in similar industries. Compare their funding, team size, growth signals, and market position on Bounce Watch to see which one fits your needs.

Source: BounceWatch company record for Benefitfocus, https://bouncewatch.com/company/benefitfocus, updated 21 June 2026. When citing, please name BounceWatch and link this page.

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