Liazon, a benefits solutions company, announced today it has secured $12.6 million in funding from Bain Capital Ventures, Ingleside Investors, Rand Capital, SBIC, and other investors.
Founded in 2007, Liazon is the company behind the first private online benefits store where employees can find, learn about, and purchase healthcare and other insurance products.
Through its Bright Choices store, employers can select their long-term benefits contribution and customize benefits portfolios from over one billion combinations of insurance, healthcare, and financial products.
Liazon serves small to mid-size companies and also manages insurance programs for Chambers of Commerce, business associations, and other channel partners.
“This investment further validates Liazon’s revolutionary model for employee health and wealth protection,” said Ashok Subramanian, Liazon’s CEO and Co-Founder. “There is a new future upon us where people, not companies, are making decisions on how best to protect themselves and their families. This capital infusion will allow us to dramatically expand our national sales and marketing footprint and continue to innovate on our Bright Choices® technology platform.”
“Liazon takes a very challenging situation – spiraling healthcare costs– and transforms it into a strategic asset for small and mid-sized businesses,” said Jeff Crisan, Managing Director, Bain Capital Ventures. “Liazon’s cutting-edge software, product suite, and scalable service model completely change the game in benefits and finally enable employers, employees, and insurance carriers to win together.”