Benefex has acquired benefits platform Cloud8, with the entire team moving over to the provider organisation.
According to Benefex, the deal reflects its continued investment in supplying online benefits management for organisations of all sizes, from SMEs to global enterprises.
Dipa Mistry Kandola, CEO at Cloud8, said: “Over the last year we have been seeking a new long-term investment partner to take our platform to the next level in its evolutionary journey. We’re delighted that this investment comes from Benefex, a highly-respected business that has a strong presence in the employee benefits technology marketplace.
“We’re excited at the opportunity of providing even better product features, support and resources to our existing BEAM at Work users, as well as accelerating the use of Cloud8’s technology.”
George Herat, managing director high growth & SME at Benefex, said: “We are incredibly excited to be welcoming the Cloud8 business to Benefex, including its intuitive, cloud-based employee benefits platform – purpose built for SMEs. Our shared focus on product-led innovation, combined with a group of fantastic channel partners, massively increases our ability to help ambitious organisations power exceptional employee experiences.”
Founder and CEO of Benefex, Matt Macri-Waller said: “We see huge growth opportunities across the entire benefits market. Cloud8 has an enviable network of resellers and partners. We want to continue to support them to grow their businesses. As a result, we will be accelerating our investment, focus and commitment to these partners and those organisations in this portion of the market.”