Jellybean, a personalised employee benefits and rewards management startup, has today raised USD 350K in a pre-seed funding round. The funding was led by clutch of investors, including Paradigm Shift Capital and Sunn91 Ventures, with participation from MarsShot Ventures (Razorpay Founders), Vaibhav Vardhan, Saurabh Nigam (VP-Human Capital, Omidyar Network) and Sumanth Narayanan – Business head, Akamai India.
Founded in 2022 by serial entrepreneur Naren Krishna, Bhavesh Upadhyay and Ganesha Gampa, Jellybean, with over 100 benefits across various categories like health, fitness, mental wellness, learning & development, lifestyle & entertainment, F&B, Commute, and Pet Care.
Jellybean’s marketplace allows employees to choose the benefits that align with their specific needs. Jellybean has already achieved a significant milestone in its journey to transform employee benefits. The startup currently caters to an annualised Gross Merchandise Value (GMV) of over USD 500K in employee benefits, demonstrating the market demand.
Commenting on the funding, Naren Krishna, Co-founder and CEO, Jellybean said “ The funding will be utilised to strengthen our product and facilitate expansion into new offerings. We are also working on leveraging AI to enhance personalisation capabilities. Our aim is to address the challenges faced by companies when providing employee benefits to a diverse, multigenerational workforce. We aim to make employee benefits more inclusive and meaningful by offering flexibility, customisation, and personalisation options.”
Surabhi Washishth, Founding Partner, Paradigm Shift Capital, said “Jellybean’s offering of making Perks and Benefits customisable and a seamless experience for today’s diverse and multigenerational workforce is a breath of fresh air in the employee benefits space. From my time as the Director of HR at WeWork and Headout where I’ve crafted many benefits policies, I can see how Jellybean’s solution is a no-brainer solution for any employer that wants to provide truly meaningful benefits to their team, while taking away the administrative hassle of managing benefits! In today’s day and age, a one-size-fits-all mentality does not work in attracting and retaining great talent – and Jellybean solves exactly that.”