Brightside, the leading financial care platform for employers, today announced that it raised $35.1 million in Series A funding, led by Andreessen Horowitz (a16z) with participation from existing investors Comcast Ventures and Trinity Ventures, the a16z Cultural Leadership Fund, and others. This funding will be used to bring Brightside to more employers and families at a time when they need it most, and improve its financial health offering.
“The cost to employers of poor employee financial health is staggering and point solutions, while good for some situations, often make the situation worse,” said Tom Spann, CEO and co-founder of Brightside. “We have proven that a holistic approach, combined with financial products built for this population, can have a significant effect on people’s lives and on the employer’s bottom line. This funding will help us bring Brightside to more families as more employers see real financial health as a crucial part of their health benefit package. Investing in employee financial health has a much greater benefit for the health and well-being of families than simply providing stop-gap financial relief.”