Origin, the comprehensive employee financial wellness platform, announced it has raised $56 million in Series B funding led by Dick Costolo and Adam Bain’s 01A, General Catalyst and Lachy Groom, with participation from existing investors Founders Fund, Felicis Ventures and Abstract Ventures, bringing its valuation to $400 million. This funding round will fuel Origin’s customer expansion and new product innovation, following a massive uptick in demand for financial planning benefits as the pandemic increased financial stress for employees.
Since the COVID-19 pandemic began, 63% of employees reported their financial stress has increased, and more than 80% want advice or validation for their financial decisions. To build a happy, healthy, productive and loyal workforce, employers need to provide benefits that truly alleviate the biggest burden on their mental health — finances. Origin provides employees with a comprehensive money management platform, personalized advice with real-life financial planners and customized financial literacy workshops to help them reach their financial goals.
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“Financial stress negatively impacts every area of life — including relationships, family, work and health. Employers are realizing that by investing in the financial well-being of employees, they can solve a host of other issues,” said Matt Watson, CEO and co-founder of Origin. “Origin’s mission is simple — we want to improve the financial well-being of every employee, no matter their income or net worth. We already help hundreds of thousands of employees achieve their financial goals, and this capital will enable Origin to keep expanding its enterprise-grade products to support employees on a global scale.”
“As a former CEO, I have seen firsthand the impact money has on employee anxiety. Historically financial planning has only been available to a small group of wealthy individuals,” said Dick Costolo, managing partner and co-founder of 01A. “Origin is making financial planning accessible to employees exactly when they need it in this time of great uncertainty, and its explosive growth proves that employees are craving this financial advice and taking full advantage of these benefits when offered.”
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Employees at prominent companies like DocuSign, Zynga, Nextdoor and Blend use Origin to understand and fully utilize their compensation and benefits package, simulate equity growth scenarios, complete their taxes, plan for retirement, pay off debt and much more.
“At Blend, we strive to ensure our team has the support they need to be happy at work and also at home, so they can show up as their best selves every day,” said Preeti Nadendla, benefits and people operations analyst at Blend. “Origin is a crucial benefit for our employees, as financial stress can be a detriment to mental health and overall wellness. Our team gets so much value out of Origin’s platform because it not only provides personalized financial advice but also helps employees understand and utilize their entire compensation and benefits package to the fullest extent.”
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