Benivo, the leading end-to-end employee mobility management platform, announced a $12 million funding round led by Updata Partners, a growth equity investment firm focused on business-to-business software. With this new capital, Benivo will grow its teams in the US, UK, Armenia, and India, and continue to expand its unified mobility solution to address the industry’s key pain points.
Benivo provides a software platform for Mobility teams at the world’s largest companies to manage their globally mobile workforce and programs. The Benivo Global Mobility Management Platform allows customers to manage HR-Employee-Vendor processes, power any type of relocation policy (VIP, core flex, lump sum, managed service, and more), and quickly and cost effectively execute employee and vendor payments. As an industry innovator, Benivo recently released an unlimited cost estimates solution, powered by Vialto Partners, which adds AI-powered expense reimbursement to its product suite.
Benivo is on a mission to help Global Mobility leaders provide more value to their organization by leveraging purpose-built software and industry data. With Updata’s investment, Benivo will accelerate customer acquisition and continue to provide cutting edge technology to Mobility teams around the world.
“Benivo’s success to date is the result of outstanding technology and a capital-efficient operating mindset. Benivo has established themselves as the leader in the Mobility software space, and we are thrilled to be partnering with them to help capture the exciting opportunity ahead,” said Braden Snyder, Partner at Updata Partners. Braden will join the Benivo Board of Directors as part of this transaction.
Nitzan Yudan, Benivo CEO said “This is an exciting moment for Benivo that recognizes our hyper-growth in the last 2 years. I would like to express a special thank you to the Benivo Changemakers, Benivo employees, and our clients for their trust, advice, commitment and support to bring us here. This is an important milestone, and we are just starting!”
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