Human Resource-Tech startup Jellybean Raises $350K in Pre-Seed Funding
Jellybean, the leading personalized employee benefits and rewards management startup in India, has successfully raised $350K in a pre-seed funding round. The funding was led by a group of investors, including Paradigm Shift Capital and Sunn91 Ventures, with participation from MarsShot Ventures, Vaibhav Vardhan, Saurabh Nigam, and Sumanth Narayanan.
Founded in 2022 by Naren Krishna, Bhavesh Upadhyay, and Ganesha Gampa, Jellybean aims to revolutionize the way organizations handle employee benefits. By offering a wide range of benefits, from health insurance to wellness programs and fringe benefits, Jellybean provides a platform that enables companies to offer personalized choices to their employees, eliminating administrative complexities.
According to a survey, benefits and perks play a significant role in a job seeker’s decision-making process, with 80% of employees preferring additional benefits over a pay raise. With this funding round, Jellybean is poised to become a total rewards super app, catering to the needs of the modern workforce. With a marketplace comprising over 100 benefits across various categories, Jellybean empowers employees to select benefits that align with their individual needs. The startup has already achieved significant milestones, catering to an annualized Gross Merchandise Value (GMV) of over $500K in employee benefits.
Naren Krishna, Co-founder and CEO of Jellybean, expressed excitement about the funding, stating, “We are thrilled to have received this significant investment by industry leaders in our pre-seed funding round. The funding will be utilized to strengthen our product and facilitate expansion into new offerings. We are also working on leveraging AI to enhance personalization capabilities. Our aim is to address the challenges faced by companies when providing employee benefits to a diverse, multigenerational workforce. We aim to make employee benefits more inclusive and meaningful by offering flexibility, customization, and personalization options.”
Surabhi Washishth, Founding Partner of Paradigm Shift Capital, said “Jellybean’s offering of making Perks and Benefits customisable and a seamless experience for today’s diverse and multigenerational workforce is a breath of fresh air in the employee benefits space. From my time as the Director of HR at WeWork and Headout where I’ve crafted many benefits policies, I can see how Jellybean’s solution is a no-brainer solution for any employer that wants to provide truly meaningful benefits to their team, while taking away the administrative hassle of managing benefits! In today’s day and age, a one-size-fits-all mentality does not work in attracting and retaining great talent – and Jellybean solves exactly that”.
Founded in 2022 by Naren Krishna, Bhavesh Upadhyay, and Ganesha Gampa, Jellybean aims to revolutionize the way organizations handle employee benefits. By offering a wide range of benefits, from health insurance to wellness programs and fringe benefits, Jellybean provides a platform that enables companies to offer personalized choices to their employees, eliminating administrative complexities.
According to a survey, benefits and perks play a significant role in a job seeker’s decision-making process, with 80% of employees preferring additional benefits over a pay raise. With this funding round, Jellybean is poised to become a total rewards super app, catering to the needs of the modern workforce. With a marketplace comprising over 100 benefits across various categories, Jellybean empowers employees to select benefits that align with their individual needs. The startup has already achieved significant milestones, catering to an annualized Gross Merchandise Value (GMV) of over $500K in employee benefits.
Naren Krishna, Co-founder and CEO of Jellybean, expressed excitement about the funding, stating, “We are thrilled to have received this significant investment by industry leaders in our pre-seed funding round. The funding will be utilized to strengthen our product and facilitate expansion into new offerings. We are also working on leveraging AI to enhance personalization capabilities. Our aim is to address the challenges faced by companies when providing employee benefits to a diverse, multigenerational workforce. We aim to make employee benefits more inclusive and meaningful by offering flexibility, customization, and personalization options.”
Surabhi Washishth, Founding Partner of Paradigm Shift Capital, said “Jellybean’s offering of making Perks and Benefits customisable and a seamless experience for today’s diverse and multigenerational workforce is a breath of fresh air in the employee benefits space. From my time as the Director of HR at WeWork and Headout where I’ve crafted many benefits policies, I can see how Jellybean’s solution is a no-brainer solution for any employer that wants to provide truly meaningful benefits to their team, while taking away the administrative hassle of managing benefits! In today’s day and age, a one-size-fits-all mentality does not work in attracting and retaining great talent – and Jellybean solves exactly that”.
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