Vimly® Benefit Solutions Secures Financing to Fuel Innovation and Growth
Vimly Benefit Solutions, the HRIS BenTech platform that provides a digital quote-to-card experience for carriers, third-party administrators, general agents, brokers, employers, and employees, announces the closing of a growth equity financing round led by MK Capital.
This new partnership with MK Capital allows Vimly to build on its momentum within the group health insurance market by accelerating platform development and extending the breadth of its product offering to support its growing customer base.
For nearly three decades, Vimly has enabled deep and personal connections within the BenTech and InsurTech industry through its unique Vimly OneBill® product. Vimly OneBill® makes it easy for customers and partners to increase their revenue and market share by offering creative and differentiated products, without increasing administrative cost. With Vimly OneBill®, brokers and general agents can easily and efficiently work with those providing health and other employee benefits, and SMB employers can compete for employees by offering better benefits without the added overhead of benefits administration. Vimly OneBill® consolidates and manages interactions across all benefits and carriers: one enrollment, one bill, one payment. In a highly complex industry, Vimly's platform offers the power of automation and simplicity.
Fred Rigsby of Blue Cross Blue Shield of Minnesota explained, "Vimly's white-labeled platform has delivered on their promise to streamline the benefits ecosystem. With Vimly's technology and modern user experience we've been able to transform our relationships with our crucial SMB hannel. We are now set up to give the market what they really want: fast and accurate access to the tools they need to prospect, quote and renew."
"Every CEO today recognizes there is a war for talent," noted Mark Koulogeorge, Managing Partner of MK Capital. "In the current market, employees are often retained or recruited away based on the benefits package provided. Vimly has become a strategic partner to organizations by enabling robust, customizable benefit packages to be cost-effectively assembled on a technology platform that employees can intuitively navigate."
Shannon Jurdana, President and CEO of Vimly, said this, "Vimly has quietly solved the most complicated billing problems in the market for many years. Our platform already powers major insurance companies, third-party administrators, association health plans, PEOs and more. This platform, together with our people and commitment to drive automation, innovation and efficiency, is enabling us to achieve our mission of simplifying the complexities of workforce and benefits administration for our customers and partners. The additional resources from MK Capital will accelerate our drive to expand the Vimly platform and introduce our quote-to-card capabilities to the entire industry."
About Vimly Benefit Solutions - Vimly Benefit Solutions provides an HRIS BenTech platform that delivers a digital quote-to-card experience for carriers, third-party administrators, general agents, brokers, employers, and employees. Founded in 1993, Vimly is solving some of the most difficult challenges in the industry: complex enrollment, billing, and platform integrations. Vimly OneBill® makes it easy for customers and partners to increase their revenue and market share by offering creative and differentiated products, and to do so without increasing administrative cost. Visit vimly.com for more information.
About MK Capital - MK Capital is a hands-on lead investor in the software and cloud services industries. The firm's partners, who average more than 20 years of venture capital experience, actively collaborate with entrepreneurial management teams to build leading companies that accelerate the digital transformation of the world economy. For more information, visit mkcapital.com.
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