Employee Navigator, a Bethesda, Md.-based benefits administration & HR software provider, raised $34m in growth equity funding from JMI Equity.
“As our business matured, we became convinced of the opportunity to sustainably build a substantial company supporting our core market,” said George Reese, Founder and CEO of Employee Navigator. “We believe there is a need for an agnostic company to bring the benefits ecosystem stakeholders together, and we are confident Employee Navigator can be that trusted partner. We have come to know JMI very well over the last two years and feel they are the ideal long-term partner for our business goals. Ultimately, this was an opportunistic fundraise as we’ve been profitable since 2015 and continue to grow profitably despite the COVID-19 headwinds, and we are excited to deliver more great products and services to our customers and partners.”
The company intends to use the funds to hire across all functions and expand its product offerings.
Announcement: Employee Navigator Raises $34M for HR and Benefits