What is PlanSource?
PlanSource is a software company headquartered in Orlando, Florida, specializing in cloud-based solutions for benefits shopping, enrollment, billing, compliance, and administration. Serving companies of all sizes, PlanSource aims to streamline the complex process of employee benefits management through its comprehensive platform. The company's focus on delivering robust and user-friendly tools addresses critical needs for businesses seeking efficient and compliant benefits administration.
How much funding has PlanSource raised?
PlanSource has raised a total of $134M across 4 funding rounds:
Private Equity
$12M
Series B
$12M
Private Equity
$40M
Series C
$70M
Private Equity (2012): $12M with participation from Lemhi Ventures
Series B (2014): $12M led by Lemhi Ventures and Timucuan Asset Management
Private Equity (2015): $40M supported by Great Hill Partners
Series C (2015): $70M featuring Great Hill Partners
Key Investors in PlanSource
Great Hill Partners
Great Hill Partners is a Boston-based private equity firm that has raised over many billions in commitments since inception to finance the acquisition, recapitalisation, or expansion of growth companies in the communications, financial technology, healthcare, information services, internet, media, retail, consumer, and software industries.
Lemhi Ventures
Lemhi Ventures is a leading venture fund dedicated to investing in disruptive healthcare innovations. Founded in 2006, the firm focuses on transforming the health system through technology and data-driven solutions. Their target clients include entrepreneurs and companies aiming to improve health outcomes and reduce costs in healthcare services.
Timucuan Asset Management
Undisclosed investor participating in the funding round.
What's next for PlanSource?
With substantial enterprise-level backing, PlanSource is poised for accelerated growth and innovation. The company is likely to invest in expanding its technological capabilities, enhancing its platform's features, and potentially broadening its market reach. Continued investment in product development and customer support will be crucial for maintaining its competitive edge and capitalizing on the evolving demands of the benefits administration landscape. The recent capital infusion signals a strategic phase focused on scaling operations and solidifying its market position.
See full PlanSource company page
