Sorbet
Sorbet is an Israeli fintech startup founded in 2019 that operates a platform enabling employees to convert unused paid time off into cash while helping employers manage accrued PTO liabilities. The company serves US employers with operations expanding into Australia.
- Company typePrivate
- Founded2019
- HeadquartersTel Aviv, Israel
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
Sorbet firmographics
Firmographics- Name
- Sorbet
- Website
- https://getsorbet.com
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Sorbet is an Israeli fintech startup founded in 2019 that operates a platform enabling employees to convert unused paid time off into cash while helping employers manage accrued PTO liabilities. The company serves US employers with operations expanding into Australia.
- Ownership category
- akta.pro rank
Sorbet industry classification
Industry- Product category
- Employee Benefits Fintech
- NAICS
- Payroll Services (541214)
- SIC
- Services-Prepackaged Software (7372)
- akta.pro primary industry
- Embedded Payroll, Earned Wage Access & Benefits Finance (FSAGALAI)
- akta.pro secondary industry
- Benefits Administration & Total Rewards Outsourcing (BPACAKAE)
Keywords
Where Sorbet is headquartered
LocationHeadquarters
- HQ city
- Tel Aviv
- HQ country
- Israel
- HQ region
- Middle East
Offices2 records
Markets served
Sorbet business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Marketing or Sales, Operations
Revenue model
- PTO Cash Conversion Service: Platform enabling employees to convert unused PTO to cash. The company generates revenue by facilitating the conversion process between employers and employees, managing the financial risk of paid time off.
Go-to-market motion1 record
Sorbet product offering
Product offeringCore offering
Sorbet provides a fintech platform that enables employees to convert their unused paid time off (PTO) into cash, while helping employers manage PTO liabilities and improve employee benefits. The platform addresses the financial risks of paid time off for both employers and employees by facilitating PTO-to-cash conversion transactions and managing cash flow issues related to accrued leave.
Differentiator
Problem solved
Functional benefit
Products and services
- Sorbet Platform A fintech platform that enables employees to convert their unused paid time off (PTO) into cash, helping employers manage PTO liabilities and improve employee benefits. The platform addresses both employer balance-sheet exposure from accrued PTO and employee demand for financial flexibility.
Quantifiable outcome
- Largest seed round for Israeli fintech startup - $21M
Companies that use Sorbet
Customer profileSegments2 records
Ideal customer profiles1 record
Sorbet technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature1 record
Sorbet partnerships and signals
Strategic signalScale indicators4 records
Sorbet competitors and assessment
Company assessmentDirect peers
- Earnin: Earnin is a leading earned wage access (EWA) platform that lets employees access earned pay ahead of scheduled paydays. Sorbet's PTO-to-cash product sits directly adjacent in the EWA category but anchors on accrued PTO rather than already-worked wages.
- DailyPay: DailyPay provides on-demand pay integrated into employer payroll systems. Like Sorbet, it sells into employers and gives employees early access to earned compensation, though DailyPay focuses on worked wages rather than unused PTO.
- PayActiv: PayActiv is an EWA and earned-benefits access platform sold through employers and payroll partners. Its employer-led GTM and employee financial flexibility positioning make it one of the closest functional analogs to Sorbet's PTO liquidity model.
Emerging players
- Wisetack: Wisetack offers employer-integrated buy-now-pay-later and earned-benefit financing. While focused on consumer financing, it shares Sorbet's underlying thesis that employer relationships unlock employee financial products.
- Clair: Clair provides on-demand pay and banking benefits to hourly workers through employer integrations. Comparable to Sorbet in targeting the employer-to-employee financial channel with a transaction-based model.
- Payflow: Payflow is an on-demand pay provider serving employers in Europe and Latin America. Its focus on employee financial flexibility through employer channels makes it a relevant emerging peer in the same category.
Broad incumbents
- Gusto: Gusto is a major SMB payroll, benefits, and HR platform. It owns the employer integrations Sorbet depends on and could readily add a PTO liquidity feature, making it both a partner candidate and a competitive threat.
- Rippling: Rippling combines HR, payroll, IT, and finance for employers. Its unified workforce data layer overlaps with where Sorbet sits, and its scale allows it to add adjacent earned-benefit features quickly.
- ADP: ADP is the dominant incumbent in payroll and workforce management. It already manages PTO accruals for a large share of US employers and could trivially extend that data into a PTO liquidity offering.
- Paycor: Paycor provides HR and payroll software to mid-market employers. Its PTO tracking and benefits administration capabilities overlap with the employer workflows Sorbet enables, positioning it as a potential integrator or competitor.
Market position
Customer concentration
Sorbet social profiles
Digital presenceSorbet financial estimates
Financial estimateRevenue estimate
Valuation estimate
Sorbet leadership team
Management profileNumber of profiles
Profiles4 records
Sorbet funding detail
Funding detailFunding overview
Funding rounds4 records
Investors6 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Sorbet 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 Sorbet
What does Sorbet do?
Sorbet provides a fintech platform that enables employees to convert their unused paid time off (PTO) into cash, while helping employers manage PTO liabilities and improve employee benefits. The platform addresses the financial risks of paid time off for both employers and employees by facilitating PTO-to-cash conversion transactions and managing cash flow issues related to accrued leave.
Is Sorbet a public or private company?
Sorbet is a private company. It is classified as venture growth investor backed and is currently operating.
When was Sorbet founded?
Sorbet was founded in 2019. It employs 51 to 100 people.
Where is Sorbet based?
Sorbet is headquartered in Tel Aviv, Israel, in the Middle East region.
How does Sorbet make money?
One revenue line is on record: PTO Cash Conversion Service.
Who are Sorbet's main competitors?
Direct peers on record are Earnin, DailyPay and PayActiv. Emerging players are Wisetack, Clair and Payflow. Broad incumbents are Gusto, Rippling, ADP and Paycor.
Does Sorbet have an API?
No public API is recorded for Sorbet.
What industry is Sorbet in?
Sorbet's product category is Employee Benefits Fintech. Its primary akta.pro industry code is FSAGALAI, Embedded Payroll, Earned Wage Access & Benefits Finance, with a secondary code of BPACAKAE, Benefits Administration & Total Rewards Outsourcing. Its NAICS code is 541214 and its SIC code is 7372.