BetterWorks Raises $8m for Perks Platform

In the US, BetterWorks - which has developed a platform for creating, managing and assessing employee perks programs - has raised $8m in a Series A round, which it will use to hire new staff and continue the development of its service.

The BetterWorks Perks online platform connects employees with locally-based vendors offering discounts for gyms, salons, laundry services etc. Employees use the system to find what interests them, click through from their profile page to place the order, and either pay themselves, or deduct the cost from an employer-provided perk budget.

For employers, the tool can be used to measure employee engagement with specific perks, while also accessing employee reviews, comments and ratings. Real-time analytics on employees' usage of perks allows them to tailor programs to fit the needs of their organization.

BetterWorks' latest funding has been led by Redpoint Ventures, bringing the total raised to-date - including through an early angel-backed round - to $10m.

'I've built employee perks program before and it's impossible to manually build a program that makes everyone happy,' states Paige Craig, CEO and co-founder of BetterWorks. 'As a small business owner I didn't have the time or leverage to negotiate and manage dozens of vendor relationships. I realized there had to be a better solution and I wasn't the only business owner who needed one.'

Web site: www.betterworks.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.