Cobee Raises € 14 Million in Series A Funding to Continue Improving Employee Compensation
Cobee, Europe’s leading digital benefits management platform, today announced the closing of a € 14 million Series A funding round led by Balderton Capital, Europe’s leading private equity firm. risk with a long history of supporting successful software companies like Aircall, Contentful, Peakon and Tessian.
In addition, recognized business angels with key roles in Zalando, N26, Uber and Gympass were present in the cycle. Cobee’s original investors, Speedinvest and Target Global, and pre-seed investors Encomenda and Lanai, have also renewed their commitment to the company.
Cobee was founded in 2019 by Borja Aranguren, Daniel Olea and Nacho Traves, with the aim of improving the well-being of workers through a flexible, innovative and understandable benefit package for all.
In Spain, her country of origin, she has grown rapidly and already enjoys the trust of companies such as Ogilvy, Group M, Lnea Directa, Glovo, Avis, Tripadvisor, N26 or Booking to manage its social benefit plans. .
Additionally, the Madrid-based company expanded in January 2021 to Portugal, where it is currently growing faster than in Spain thanks to large clients with thousands of employees. In 2020 and despite the pandemic,
Cobee has doubled its roster and hopes its team will continue to grow at the same rate until the end of the year.
With the support of this new capital, Cobee will continue to improve the user experience, both for companies and for workers, through the improvement of its platform and the integration of new benefits. In this line, it is expected to double the current portfolio with a strong commitment to financial products and services related to health and wellness, including new benefits such as gyms, mental health support, wellness programs, entertainment platforms and much more. designed to meet the growing needs of businesses looking for ways to improve and customize their compensation packages.
Borja Aranguren, CEO and co-founder of Cobee, assured that “the financial relationship between employee and company is no longer just focused on salary. Employees are increasingly asking for offers at their workplace. Starting with flexible compensation plans and benefits, we aim to provide employees with the best possible experience by giving them greater control over all of their compensation. This tour will allow us to continue to support employees and help Human Resources teams improve employee confidence in the company and attract the best talents. “
Suranga Chandratillake, General Partner of Balderton, believes that “today, workers are the most important resource in companies, so ensuring their well-being and sustainability in the company is a fundamental priority. Providing them with a wide and accessible variety of benefits that they can use on a daily basis is essential for anyone who wants to attract and retain top talent. Cobee makes this possible and does it through a comprehensive catalog of benefits and in a more holistic way than any new generation platform today ”.