Yonder raises €2.6m in pre-seed funding round – The Irish Times

Irish platform Yonder has raised $2.6m (€2.6m) in pre-seed funds to simplify health and pension benefits for businesses and employees around the world.

The funding round was led by Dublin-based Northzone and Frontline Ventures, with Cocoa, Broadstone, Uncommon Projects and angel investors also participating. Among the angel investors is a former Workday executive.

The funding will be used to accelerate product development and expand its engineering and product teams, with go-to-market and commercial roles also up for grabs. It plans to expand its existing markets in the UK and Ireland, and add new ones across Europe.

Yonder’s platform aims to remove barriers to accessing benefits globally, making it easier for businesses to deliver benefits, such as health insurance and pensions, regardless of where employees are based. Employers can create packages quickly and easily, while employees can use it to secure local health and pension benefits, via a mobile app to enroll and manage benefits from local providers in real time. Founded in 2022 by Chief Executive Luke Mackey, Chief Technology Officer Patrick O’Boyle and Chief Engineering Officer Deepak Baliga, Yonder already has a number of partnerships with insurance and investment providers that offer health, dental, vision and retirement services.

wrestling experience

Mackey said the idea for the company came from his and his co-founders’ experience of struggling with the employee benefits system. This includes fragmented and non-interoperable systems, with third-party forms often required.

“Anything involved with pension and health insurance, or the financial stack, is really out of line and poor,” he said. “It’s an area of ​​finance that just hasn’t been updated not just for my generation, but even for the generation past; it’s a pretty antiquated industry.

However, in a hybrid work environment where employees may be dispersed across the country and further afield, Yonder’s co-founders believe they have a good solution for the industry.

“In an increasingly ‘hire from anywhere’ world, flexibility is king. To stay competitive, companies must be able to offer seamless access to a range of basic employee benefits,” said Zoe Chambers, Partner at Frontline Ventures. “From health to pensions, Yonder is revolutionizing this process, enabling employers to provide a mobile, portable benefits experience that is directly linked to payroll.”

The platform is currently opening its beta version to companies on the waiting list. It also plans to integrate current tools such as Personio, Humaans or BambooHR to synchronize with the platform.

Comments are closed.