LONDON, UK – We are pleased to announce that Updata Partners has completed its latest investment, leading a $12 million round for Benivo, a London-based employee mobility management platform.
The modern-day workforce is increasingly global, transient, and interconnected. In large enterprises, where hundreds or thousands of employees move annually, the burden of managing mobility is complex, costly, and directly impacts both employee satisfaction and company profitability. In addition to this already overwhelming workload, work from home and hybrid work have added new responsibilities for the mobility manager. Benivo’s end-to-end platform reduces the complexity and cost of managing moves, paying vendors, and facilitating employee reimbursements, providing quick time to value and an improved employee experience. Benivo provides a pure-play software solution which addresses all stakeholders compared to legacy services-driven solutions.
Benivo’s strong, capital efficient growth and impressive unit economics reflect the traits we seek in investment targets. The raise will be used to accelerate sales and marketing, particularly in the United States, and to continue to advance the product roadmap.
Updata will be represented on the Company’s board by Partner Braden Snyder. We look forward to supporting Benivo’s continued success.
The Company’s press release can be found here.