Joon, a Los Angeles, CA-based corporate wellness solution featuring individualized benefits, raised $2.3M in seed funding. The round was led by Alpha Edison with participation from Rock Health, Sweetgreen Co-Founder Jonathan Neman, Livongo Co-Founder Alex Bitoun, Rothy’s Co-Founder Roth Martin, Bambee HR Founder Allan Jones, Even.com CEO David Baga, Ordermark Founder and Twenty40 Ventures Partner Alex Canter, and Fitt Insider Founders Anthony and Joe Vennare.
“Even when companies technically reimburse wellness expenses, find me an employee who enjoys jumping through the hoops of submitting a receipt for a gym membership or meditation app,” said Sebastian Elghanian, Co-Founder and CEO. “Whether they’re working from New York City or Honolulu, employees today want benefits that feel like benefits, not burdens.”
Unlike most benefits platforms that issue cards or have a restrictive list of eligible vendors, JOON works by linking to employees’ existing bank accounts and credit or debit cards. Employers can select approved categories or individual vendors, and then JOON’s algorithm and technology run in the background, seamlessly handling approvals and reimbursements.
The company intends to use the funds to expand its platform to offer an enhanced reporting suite for HR teams and further personalize the experience to help employees align their benefits with their personal and professional goals.
Announcement: Joon Raises $2.3M for Employee Wellbeing