US Financial Wellness Benefits Provider Raises $33 Million To Support Expansion Plan

Brightside, a US-based provider of financial wellness platform to businesses for use as an employee benefit, announced that it has raised $33 million in Series B funding, bringing the total funding to $75 million. Obvious Ventures led this latest funding round, with participation from Andreessen Horowitz, Chestnut Street Ventures, Trinity Ventures, and Clocktower Technology Ventures.

The newly-raised funds will be used to boost the company’s workforce, hiring additional talents. The company is looking to add around 200 workers to support more new users in the coming years. The company plans to expand internationally, adding more customers in other countries. The additional fundraising will also help Brightside support product development, including working on additional AI-driven capabilities to further elevate its product experience.

Founded in 2018, and based in Chandler, Arizona, Brightside is an employer-based financial health solution that combines personal assistants and an innovative partner platform. The company, which is currently led by CEO Tom Spann, provides a platform for employees and their families to address personal finance needs, resulting in improved productivity, retention, and workforce diversity. Originally, the company serves only US-based businesses, but now, it’s looking to reach people in other countries where some of its customers have employees.

Brightside currently supports over 300,000 families and serves leading Fortune 500 companies with frontline workers in industries such as healthcare, distribution, and manufacturing.

In addition to US main office, Brightside also operates offices in San Francisco and Philadelphia.

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