Origin launches with $21M Series B to disrupt the $45 billion Global Benefits Industry
The Global Benefits Intelligence Platform empowers HR teams and benefit managers to reduce costs, eliminate waste and gain visibility in order to strategically manage global benefits spending
Origin, the first Global Benefits Intelligence Platform, officially launched today. It announced that it had raised $21 Million in Series A funding, led by Felix Capital with participation from Acadian Ventures, and Notion Capital. Tudor Havriliuc (former VP HR at Meta), Paul Daugherty (Enterprise AI author and recently retired CTO at Accenture), Jacqui Canney, CHRO at ServiceNow and Laura Modiano, Startups Lead at OpenAI for EMEA, have all invested. Origin’s funding round is valued at $106m and will help the company to accelerate its mission of revolutionizing the $45billion global benefits industry.
International corporations spend hundreds of millions each year on employee benefits, without any clear oversight, management or ROI. HR and benefits teams are unable to provide strategic value to their organization because they struggle to navigate fragmented data and outdated technologies. Gartner reports that 55% of HR leaders say their current technology does not meet the evolving needs of their organizations. Enterprises lose approximately $6,000 per employee each year due to underused, redundant or mismanaged benefit programs.
Chris Bruce, the CEO and co-founder of Origin, said: “We built Origin because global benefit teams urgently needed clarity, efficiency and control.” Origin’s AI platform transforms fragmented data on benefits into actionable insights that can be used to make strategic decisions, save money, and improve employee outcomes. Origin empowers HR managers to move from administrative complexity to strategic simplicity, optimizing their largest investment.
Cuidoimg class=”wp smiley” src=”https://s.w.org/images/core/emoji/15.1.0/72×72/2122.png”. style=”height 1em, max-height 1em ;”>,. Cuido transforms massive amounts of unstructured data, including leave allowances, vendor agreements, and commissions, into an intuitive, centralized intelligence layer. Benefits teams can use this real-time transparency to identify and eliminate inefficiencies. They can also streamline vendor management and enhance employee engagement.
Origin was co-created by leading multinational corporations, such as Pfizer and Comcast. It also includes EA, Boston Consulting Group, BCG, and bp. Origin transforms their global benefit operations. Initial implementations showed significant cost reductions as well as increased operational efficiency.
Felix’ mission is to support founders who empower new ways of working and living – this is at the core of what we do. Origin, we believe, is best positioned to be the leader in AI adoption for the benefits sector. We have been speculating about the future of work due to the shift in relationships between employers and their employees for some time. Chris, whom we have known for many years, impressed us with his track record of success in the global benefits sector. Origin’s team has been in the benefits space for over 20 years and is well-positioned to understand today’s market, which demands transparency and simplicity. Origin’s Cuido, with its AI-powered benefit intelligence, empowers benefits leaders and employees while also creating a product that is forward-thinking and moves the world forward. We are proud to support Chris, Peter and this experienced team.”
The new funding will help Origin continue its international expansion in the US and Europe, and develop the capabilities of Origin and Cuido.
The best part about working with Origin, is that we have a conversation. Amy Manning is Senior Director of Global Retirement & International Benefits at Pfizer. We were able, in a short time period, to get the core information that we needed about contracts that flowed to very complex retirement plans. We also understood what we needed do change and how this impacted our colleagues. We were able to complete a program which would have taken us six months, without Origin. It only took us two. It has really improved my decision making.”
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