What is PlanSource?
PlanSource is a software company specializing in comprehensive 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. Headquartered in Orlando, Florida, the company has established itself as a key player in the HR technology sector, facilitating efficient and compliant benefits administration for its diverse clientele.
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 Timucuan Asset Management and Lemhi Ventures
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 are entrepreneurs and companies aiming to improve health outcomes and reduce costs in healthcare services. With a team of experienced investors, Lemhi Ventures seeks out visionary leaders who are committed to changing the healthcare landscape.
Timucuan Asset Management
Timucuan Asset Management is an investment firm that participates in funding rounds, focusing on companies with growth potential. Their involvement suggests a strategic interest in the technology and software sectors where PlanSource operates.
What's next for PlanSource?
With substantial enterprise-level backing, PlanSource is strategically positioned for continued expansion and innovation in the benefits administration technology market. The company's focus on cloud-based solutions suggests an ongoing commitment to scalability and accessibility. Future developments are likely to center on enhancing its platform's capabilities, potentially through further technological integration or strategic partnerships, to address evolving employer needs and regulatory landscapes. This sustained investment underscores confidence in PlanSource's business model and its capacity to capture greater market share.
See full PlanSource company page
