Benepass
- Company typePrivate
- Founded2019
- HeadquartersNew York, United States
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
Benepass firmographics
Firmographics- Name
- Benepass
- Legal name
- Benepass, Inc.
- Website
- https://getbenepass.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Benepass industry classification
Industry- Product category
- Employee Benefits Administration Software
- NAICS
- Pharmacy Benefit Management and Other Third Party Administration of Insurance and Pension Funds (524292)
- SIC
- Hospital & Medical Service Plans (6324)
- akta.pro primary industry
- Flexible Benefits Administration (FSA/HSA/HRA) (HLAEALAK)
- akta.pro secondary industry
- Embedded Payroll, Earned Wage Access & Benefits Finance (FSAGALAI)
Keywords
Where Benepass is headquartered
LocationHeadquarters
- HQ city
- New York
- HQ country
- United States
- HQ region
- North America
Offices3 records
Markets served
Benepass business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure
Revenue model
- SaaS Subscription (B2B Benefits Platform): Recurring subscription-based pricing charged to employers for access to the Benepass benefits capital management platform (HSA, FSA, Commuter, HRA, LSA, Wellness, Professional Development, Remote Work, Family Care, Food, Rewards & Recognition). Charged on a per-employer/per-employee basis for managing pre-tax and post-tax benefit programs.
- Enterprise Service Fees / Implementation: Benepass funds operations via exempt securities offerings (Form D filings) and enterprise SaaS contracts; revenue more than doubled since January 2025 per the Series B announcement, supporting operations and platform development.
- Variable Card / Transaction Spend (Implied): Revenue grows with employee benefit utilization — the company processes more than 4.5M+ card transactions across $500M+ in funded benefits, with platform monetization tied to employer spend on the platform.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Quote-based enterprise subscription |
Go-to-market motion4 records
Distribution channels5 records
Marketing channels8 records
Benepass product offering
Product offeringCore offering
Benepass is a unified global benefits capital management platform that lets employers administer pre-tax accounts (HSA, FSA, Commuter, HRA, including a specialty Weight Health HRA for GLP-1 medications) and post-tax Lifestyle Spending Accounts on a single fintech platform accessed through one Benepass Visa card and one app. The card-first platform is powered by a proprietary in-house ledger and real-time decisioning engine, integrates with 24+ HRIS and payroll systems, and is supported by an AI-powered Benefits Compliance GPT assistant for HR teams.
Product overview
Benepass is a single unified global benefits capital management platform (with platform-plus-modules architecture) that consolidates pre-tax and post-tax benefits on one modern platform powered by proprietary fintech. The core offering includes four pre-tax benefit accounts: Benepass HSA (Health Savings Account), Benepass FSA (Flexible Spending Account), Benepass Commuter (commuter benefits), and Benepass HRA (Health Reimbursement Arrangement), along with a specialty Weight Health HRA for GLP-1 medication cost control. On the post-tax side, the platform features the Benepass Lifestyle Spending Account (LSA) which is highly customizable and offered in multiple specialized configurations including General Purpose LSA, Wellness LSA, Professional Development Account, Remote Work Account, Family Care and Formation Account, Food benefits, and Rewards and Recognition. All products are accessed through a single Benepass Visa card, one app, and one intuitive experience, supported by HRIS and payroll integrations, real-time decisioning engines, and AI-powered tools like Benefits Compliance GPT. The platform serves over 250 employers globally with 400,000+ users across 80+ countries.
Differentiator
Problem solved
Functional benefit
Products and services
- Benepass HSA A modern Health Savings Account (HSA) that empowers employees to leverage tax advantages and invest for future healthcare needs alongside high-deductible health plans; paired with an integrated low-minimum HSA investing experience.
- Benepass FSA A modern Flexible Spending Account (FSA) supporting health FSAs and dependent care FSAs (DCFSAs), letting employees budget and pay for qualified medical, dental, vision, and childcare expenses with pre-tax dollars and 98% auto-substantiation.
- Benepass Commuter Pre-tax commuter benefit program covering public transportation, carpooling, parking, biking, and scooters via the Benepass card, supporting hybrid workplaces and global benefit parity.
- Benepass HRA
- Benepass Weight Health HRA A specialty HRA designed to manage GLP-1 medication costs with eligibility verification, card funding cadence, eligible merchant controls, and post-spend verification, delivering up to $3.24M annual savings per 20,000 employees versus medical plan coverage.
- Benepass Lifestyle Spending Account (LSA)
- Benepass Professional Development Account
- Benepass Remote Work Account
- Benepass Family Care and Formation Account
- Benepass Food
- Benepass Rewards and Recognition
- Benefits Compliance GPT
Quantifiable outcome
- 98% client retention
- +12 more outcomes
Companies that use Benepass
Customer profileNamed customers40 records
Segments10 records
Ideal customer profiles4 records
Benepass technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration22 records
AI capability8 records
Feature7 records
Benepass partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered flagship and core.
- Stripe Payments CompanyflagshipPowers the Benepass Visa® Commercial cards (issued by Celtic Bank). Also provides money transmission services and account services for Benepass, with funds held at Fifth Third Bank N.A., Member FDIC.
- Pacific West BankflagshipMember FDIC bank that issues the Benepass Health Savings Account Visa® Debit card and Benepass Flexible Spending Account Visa Debit® card pursuant to a license from Visa U.S.A. Inc.; provides FDIC-insured custody of funds up to $250,000.
- Celtic BankflagshipIssuer of Benepass Visa® Commercial cards, which are powered by Stripe.
- Alpaca Securities LLCcoreProvides investment capabilities for Benepass HSA investing products; not FDIC insured and subject to investment risks.
- Fifth Third Bank N.A.coreMember FDIC bank that holds funds for Benepass's account services provided by Stripe Payments Company.
- WorkdayflagshipHRIS integration partner; the most common Benepass customer HRIS (33% of customers) and supports API, SFTP, and RaaS feeds. Workday is also featured as a customer logo and joint webinar partner (Workday Wellness).
- ADPflagshipHRIS and payroll integration partner; 21% of Benepass customers use ADP, integrated via SFTP.
- UKGcoreHRIS integration partner; 11% of Benepass customers use UKG via API.
- PaylocitycorePayroll integration partner integrated via API and SFTP.
- SHRMcoreCo-branded exclusive webinar 'Why Traditional Benefits are Failing: A Better Approach to Pre-tax and Flexible Benefits' on May 7, 2026.
- Employee Benefit News (EBN)coreCo-branded exclusive webinars including 'Benefits in 2026: Insights from the Benepass Benchmarking Guide' (April 2 and March 11, 2026) and 'Deep Dive: What to include in your Lifestyle Spending RFP / RFI' (February 2, 2026).
- NewfrontcoreCo-marketed webinars on fertility mandates ('Beyond California: Navigating Fertility Mandates With Newfront', September 23, 2025) and compliance ('Navigating the OBBB: Key Insights with Newfront', August 6, 2025).
Scale indicators16 records
Recent moves6 records
Expansion highlights6 records
Benepass competitors and assessment
Company assessmentDirect peers
- Forma: Forma is a direct competitor offering a benefits administration platform with LSAs, HSAs, and stipends for distributed teams using card-first infrastructure. Targets similar mid-market and enterprise employer customers with overlapping value proposition.
- Compt: Compt provides a lifestyle spending account and stipends platform for modern employers, overlapping directly with Benepass's LSA offering. Both compete for the same HR buyer seeking employee choice-based benefits programs.
- Fringe: Fringe offers a lifestyle benefits and perks platform for employers, with similar card-based delivery and personalization claims. Competes in the same modern benefits space targeting distributed workforces.
- Zestful: Zestful provides an employee benefits and stipends platform for HR teams, including tax-advantaged wellness and lifestyle benefits. Direct competitor in the modern LSA/stipends category.
Emerging players
- PeopleKeep (by Bennie): PeopleKeep administers QSEHRA and ICHRA reimbursement accounts for small employers, adjacent to Benepass's HRA product. Overlaps on employer-funded benefit administration but focuses more on traditional reimbursement flows than card-first delivery.
Broad incumbents
- ADP TotalSource/Run Powered by ADP: ADP bundles benefits administration into its payroll/HRIS platform with massive distribution and brand recognition. ADP is the incumbent Benepass most often replaces or competes with in enterprise deals.
- Gusto: Gusto provides payroll, HR, and benefits administration for SMBs with strong brand recognition. While primarily SMB-focused, Gusto's benefits offering overlaps with Benepass's pre-tax products for smaller employers.
- Rippling: Rippling unifies HR, payroll, IT, and benefits into a single platform. Benepass integrates with Rippling (listed partner) and competes when buyers evaluate benefits modules vs. a unified stack.
- Benefitfocus: Benefitfocus is an established enterprise benefits administration platform with deep carrier integrations. Represents the legacy incumbent in the benefits admin space that Benepass modernizes against.
- PlanSource: PlanSource (now part of iSolved) offers benefits administration and decision-support tools for employers of all sizes. Benepass integrates with PlanSource but competes when buyers consolidate benefits vendors.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights7 records
Customer concentration
Benepass social profiles
Digital presenceBenepass compliance and trust
Trust signalCompliance1 record
Benepass financial estimates
Financial estimateRevenue estimate
Valuation estimate
Benepass leadership team
Management profileNumber of profiles
Profiles4 records
Benepass funding detail
Funding detailFunding overview
Funding rounds6 records
Investors17 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Benepass M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Benepass
What does Benepass do?
Benepass is a unified global benefits capital management platform that lets employers administer pre-tax accounts (HSA, FSA, Commuter, HRA, including a specialty Weight Health HRA for GLP-1 medications) and post-tax Lifestyle Spending Accounts on a single fintech platform accessed through one Benepass Visa card and one app. The card-first platform is powered by a proprietary in-house ledger and real-time decisioning engine, integrates with 24+ HRIS and payroll systems, and is supported by an AI-powered Benefits Compliance GPT assistant for HR teams.
Is Benepass a public or private company?
Benepass is a private company. It is classified as venture growth investor backed and is currently operating.
When was Benepass founded?
Benepass was founded in 2019. It employs 51 to 100 people.
Where is Benepass based?
Benepass is headquartered in New York, United States, in the North America region.
How does Benepass make money?
Three revenue lines are on record. SaaS Subscription (B2B Benefits Platform) is the primary driver. The others are enterprise Service Fees / Implementation and variable Card / Transaction Spend (Implied).
Who are Benepass's main competitors?
Direct peers on record are Forma, Compt, Fringe and Zestful. PeopleKeep (by Bennie) is listed as an emerging player. Broad incumbents are ADP TotalSource/Run Powered by ADP, Gusto, Rippling, Benefitfocus and PlanSource.
Does Benepass have an API?
Yes. Benepass has a number of API integration partners and supports many EDI file integrations. It integrates with HRIS and payroll providers including Workday, ADP, Paylocity, and UKG, and can integrate most providers that expose an API or accept SFTP. Common feed types include API (preferred for real-time sync), SFTP for secure file transfer, and RaaS which is specific to Workday. Examples include ADP via SFTP, Paylocity via API and SFTP, UKG via API, and Workday via RaaS.
What industry is Benepass in?
Benepass's product category is Employee Benefits Administration Software. Its primary akta.pro industry code is HLAEALAK, Flexible Benefits Administration (FSA/HSA/HRA), with a secondary code of FSAGALAI, Embedded Payroll, Earned Wage Access & Benefits Finance. Its NAICS code is 524292 and its SIC code is 6324.