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Sorbet

Full company profile

uuid00006jp

Namestring
Sorbet
Websiteurl
getsorbet.com
Company typeenum
Private
Founded yearint
2019
Short descriptiontext

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.

Operating statusenum
Operating
Ownership categoryenum
Headcount rangeband
51–100
akta.pro rankint
HeadquartersTel Aviv, Israel
HQ citystring
Tel Aviv
HQ countrystring
Israel
HQ regionstring
Middle East
Markets served

Serves global market

Offices2 records

Each record includes

City, Country, Type, Description, Source

Keyword5 values
paid time off, earned wage access, employee benefits platform, PTO cash conversion, HR fintech
Industry2 codes
1Embedded Payroll, Earned Wage Access & Benefits Finance
CodeFSAGALAIPrimaryYes
2Benefits Administration & Total Rewards Outsourcing
CodeBPACAKAEPrimaryNo
NAICS code1 code
  • Payroll Services541214
SIC code1 code
  • Services-Prepackaged Software7372
Product category
Employee Benefits Fintech
Social media profiles1 record
GTM motion1 record

Each record includes

Type, Description, Source

Revenue model1 record
1PTO Cash Conversion Service
TypeTransaction Fee
Description

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.

prnewswire.com
Cost components4 values
Personnel, Technology or R&D, Marketing or Sales, Operations
GTM typeB2B
B2B
Offering typeSoftware
Software
Core offering1 text field

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
Functional benefit
Problem solved
Quantifiable outcome1 value
  • Largest seed round for Israeli fintech startup - $21M
Product and service1 record
1Sorbet Platform
CategoryEmployee Benefits Fintech
Description

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.

Scale indicator4 records

Each record includes

Type, Value, Description, Source

Peers10 records
1Earnin
TypeDirect peer
Description

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.

2DailyPay
TypeDirect peer
Description

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.

3PayActiv
TypeDirect peer
Description

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.

4Wisetack
TypeEmerging player
Description

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.

5Clair
TypeEmerging player
Description

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.

6Gusto
TypeBroad incumbent
Description

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.

7Rippling
TypeBroad incumbent
Description

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.

8ADP
TypeBroad incumbent
Description

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.

9Paycor
TypeBroad incumbent
Description

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.

10Payflow
TypeEmerging player
Description

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.

Market position
Customer concentration

Classification, Details

Segment2 records

Each record includes

Title, Type, Primary, Description, Pain point addressed, Use case, Source

Ideal customer profile1 record

Each record includes

Profile, Firmographic size, Sales motion, Sales cycle length, Buying structure, Purchase trigger, Buyer persona, Geography, Industry vertical, Primary use case, Description, Pain points, Evidence proof points, Target buyer

Technology focused
Yes
API detail
Has APIbool
No

Docs URL, Description

AI maturity
App detail

Has app

Feature1 record

Each record includes

Title, Differentiator, Description, Source

Core technology
Revenue estimate
Valuation estimate
Number of profiles
Profiles4 records

Each record includes

Name, Designation, Designation category, Overview, Profile commentary, Source

No data
No data
Funding overview

Funding stage, Last funding date, Total funding USD

Funding rounds4 records

Each record includes

Round, Amount USD, Date, Pre money valuation, Total investors, Investors, News

Investors6 records

Each record includes

Name, Type, Date of entry, Rounds participated, Website

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Each record includes

Name, Acquisition type, Announced date, Completed date, Status, Website, News

Investment

Each record includes

Name, Round, Announced date, Lead investor, Website, News

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Sorbet

Employee Benefits Fintechgetsorbet.com

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.

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

  • Paid time off
  • Earned wage access
  • Employee benefits platform
  • PTO cash conversion
  • HR fintech

Where Sorbet is headquartered

Location

Headquarters

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

  1. 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 offering

Core 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 profile

Segments2 records

Ideal customer profiles1 record

Sorbet technology and API

Technology

Technology focussed Yes

API detail

Has API
No
API docs
API detail

Core technology

AI maturity

App detail

Feature1 record

Sorbet partnerships and signals

Strategic signal

Scale indicators4 records

Sorbet competitors and assessment

Company assessment

Direct 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 presence

Sorbet financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Sorbet leadership team

Management profile

Number of profiles

Profiles4 records

Sorbet funding detail

Funding detail

Funding 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 investment

M&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.

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Live signals
GlobalfintechseriesSorbet Secures $25 Million Debt Facility from Pier Asset Management and Debuts New Payroll Integration Feature to Expand Access to Financial Flexibility for EmployeesSorbet secured a $25 million debt facility from Pier Asset Management to scale its operations amidst strong demand for its PTO advancement services. The company simultaneously launched a new payroll integration feature via Pinwheel, allowing users to automatically repay loans through direct paycheck deductions.PR NewswireSorbet Secures $25 Million Debt Facility from Pier Asset Management and Debuts New Payroll Integration Feature to Expand Access to Financial Flexibility for EmployeesSorbet secured a $25 million debt facility from Pier Asset Management to scale its fintech platform that allows employees to access the value of unused Paid Time Off. Concurrently, Sorbet launched a new payroll integration feature with Pinwheel to enable direct paycheck repayments for these advances.PR NewswireNew Survey Reveals One-Third of U.S. Employee's Vacation Days Go Unused; 68M Americans Losing Out on PTO ValueFintech company Sorbet released its PTO Report 2024 on July 24, 2024, presenting findings from a December 2023 survey of 1,500 U.S. employees on paid time off usage patterns. The report found that 62% of Americans don't use all their PTO, representing over $312 billion in unused vacation days last year, with usage varying significantly by gender, age, industry, and remote work status. The survey also revealed that Gen Z and young millennials (ages 21-34) take about one week less vacation than employees over 55, while women take 10% less PTO than men.Miami HeraldThe 7 Best Cloth DiapersThe article presents a curated list of seven recommended cloth diaper brands, evaluating them based on features such as material composition, absorbency, and eco-friendliness. It highlights specific products from companies including Ruvanti, Nora’s Nursery, Gerber, Esembly, Sorbet, Alvababy, and Mama Koala for different parental needs.PR NewswireFintech Startup Sorbet Announces New Financial Wellness Benefit with On-Demand Cash Advance for Unused PTOSorbet, a fintech startup and PTO solutions platform, announced a new on-demand cash advance product that allows employees to access the cash value of their unused paid time off before leaving their employer, with APR ranging from 9.99% to 18%. The company has already received thousands of applicants representing over $7.5 million in PTO value applied, with nearly 40% of applicants aged 30-40 from large employers including Walmart, Amazon, Home Depot, and Target. Sorbet is currently offering the product in eight U.S. states and plans to expand nationally throughout 2023.PR NewswireUnused Paid Time Off Has Doubled Since Pandemic; 40% of U.S. Employers Have Changed Their PTO PoliciesSorbet, a PTO solutions platform, released findings from the first major paid time off survey since 2019, revealing that 55% of PTO goes unused by U.S. employees, nearly doubling from 28% in 2019. The study exposed significant workplace disparities, including male employees receiving 10% more PTO days than women and taking 33% more days off, while the total accrued PTO liabilities in the U.S. reached $318 billion, representing a 17% increase since 2019. With 30% of U.S. workers considering job changes and a looming recession, the rise in unused PTO poses an acute financial threat to employers, as they must pay out unused days when employees leave.PR NewswireSorbet LITE Launches Eliminating Unused End-of-Year PTO Debt for Businesses and Converting it into Cash for EmployeesSorbet, an Israeli fintech company, announced the launch of Sorbet LITE, a new financing tool that allows employers to eliminate unused employee PTO debt before year-end while enabling workers to cash out accrued time off onto a prepaid Visa card. The product is designed to address the unpredictable liability that accrued PTO creates on corporate balance sheets, particularly as it grows with wage inflation. The company, founded in 2019, was previously known for a comprehensive mobile app platform that helps employees manage time off and allows employers to refinance PTO debt.PR NewswireSorbet Completes $21M RaiseSorbet has closed a $21 million seed funding round, led by Group 11, marking the largest seed investment for an Israeli fintech startup to date. The company's platform allows employees to convert unused paid time off into cash, helping employers manage balance sheet liabilities while providing workers with immediate liquidity. Sorbet is simultaneously expanding its operations from the US to Australia to address similar labor law challenges regarding indefinite PTO accruals.CTechFintech startup Sorbet completes $21 million Seed roundFintech startup Sorbet has secured $21 million in a Seed funding round, marking the largest seed investment for a fintech company in Israel. The funding was led by Group 11, and will support Sorbet's platform that enables employees to convert unused Paid Time Off (PTO) into cash, addressing a significant market inefficiency associated with $270 billion in unused PTO in the U.S.TechCrunchPaid time off startup Sorbet reels in another $15M inside three monthsSorbet, a U.S./Israeli startup that helps companies manage paid time off liabilities by buying out PTO from employees and loading cash onto prepaid cards, has raised $15 million in a funding round led by Group 11, just months after a $6 million seed round in April. The company refinances PTO liabilities for employers, offering forecasting advantages and greater control over the process. Group 11 cited a $270 billion market opportunity and expressed confidence in Sorbet's growth potential.