What is PlanSource?
Headquartered in Orlando, Florida, PlanSource operates as a sophisticated software-as-a-service (SaaS) provider specializing in the automation of benefits shopping, enrollment, billing, and compliance. By centralizing these complex administrative functions into a unified cloud-based platform, the company addresses the critical pain points faced by organizations of all sizes. Its market position is bolstered by a robust architecture that simplifies the intersection of human resources and financial technology, ensuring that employers can manage complex benefits packages with increased accuracy and reduced operational overhead.
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
Lemhi Ventures
Lemhi Ventures is a leading venture fund dedicated to investing in disruptive healthcare innovations, focusing on transforming the health system through technology and data-driven solutions.
Great Hill Partners
Great Hill Partners is a Boston-based private equity firm that finances the acquisition, recapitalization, or expansion of growth companies across the financial technology and software industries.
Timucuan Asset Management
Timucuan Asset Management is an investment firm providing strategic capital to support the growth and operational scaling of technology-driven enterprises.
What's next for PlanSource?
With the recent infusion of $0, PlanSource is well-positioned to accelerate its product roadmap and deepen its penetration into the enterprise market. The strategic focus will likely center on enhancing the user experience for benefits enrollment and expanding its compliance capabilities to meet the demands of a global workforce. As the firm continues to leverage its cloud-native architecture, it is expected to prioritize integrations with broader HRIS ecosystems, thereby cementing its role as an indispensable utility for modern enterprise benefits administration. The company remains a key subject of interest for stakeholders monitoring the intersection of health-tech and administrative automation.
See full PlanSource company page
