HR-Tech Startup Jellybean Secures $350,000 In Pre-Seed Funding The funding will be utilized to strengthen product and facilitate expansion into new offerings
By Teena Jose
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Jellybean, a personalized employee benefits and rewards management startup, has raised $350,000 in a pre-Seed funding round 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. The funding will be utilized to strengthen the product and facilitate expansion into new offerings.
"We are thrilled to have received this significant investment by industry leaders in our pre-seed funding round. We are also working on leveraging AI to enhance personalization 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, customization, and personalization options," said Naren Krishna, co-founder and CEO, Jellybean.
Founded in 2022 by Naren Krishna, Bhavesh Upadhyay and Ganesha Gampa, Jellybean aims to transform the way organizations design, manage, and streamline employee benefits.The company claimed that it currently caters to an annualized Gross Merchandise Value (GMV) of over $500,000 in employee benefits, demonstrating the market demand.
"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. 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," said Surabhi Washishth, founding partner, Paradigm Shift Capital.
