Benepass has raised $40 million in Series B funding led by Centana Growth Partners, with participation from FoW Partners and existing investors, to help employers better manage rising healthcare costs while expanding employee choice. The funding will support the company’s push into larger and more complex organizations, strengthening its pre- and post-tax benefits offerings and enabling more specialized, cost-sensitive programs. As healthcare expenses are projected to rise sharply—driven by higher utilization, chronic conditions, and specialty drugs—many employers are seeking alternatives to shifting costs onto employees through higher premiums and deductibles.
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Benepass plans to expand its platform with enhanced Health Savings Accounts, integrated enrollment, and new Specialty Health Reimbursement Accounts, including programs supporting GLP-1 medications. Matthew Alfieri, Partner at Centana Growth Partners, said, “What stood out in diligence was the consistency of customer praise across flexibility, its user experience, and a highly collaborative support model.” Jaclyn Chen, CEO of Benepass, added, “By consolidating benefits on a single platform and expanding employee choice, employers can turn benefits into something people actually understand, use, and value.”
