London-based Juno Gets $4M to Personalize Employee Benefits

Juno, the London company whose mission is to allow employees to choose benefits that work for them, has raised 3.7 million pounds ($4 million), BusinessCloud.com reported Tuesday (April 26).

This latest injection of capital will allow Juno to improve its product, add physical debit cards for purchasing benefits and a fully integrated marketplace, the company said.

The round was led by Hoxton Ventures, the London-based early-stage venture firm, and joined by angels including Juno early adopters Tony Jamous, CEO of OysterHR and Paddle CEO Christian Owens.

Juno said its research confirms there’s a disconnect between workplace benefits and how employees perceive them.

Launched in 2019 by British-Iraqi entrepreneur Ally Fekaiki, Juno’s benefits marketplace vows to reimagine what it calls a broken system by empowering workers to choose benefits they want, using credits provided by their employer.

Today, Juno’s platform is used by more than 160 companies in 40 countries. The company said it has seen consistent growth since January 2021, and the number of users swelled tenfold last year.

The employee benefits offered on its platform include childcare, mental health support, fitness classes and food delivery boxes.

“If the purpose of employee benefits is to keep staff happy and healthy, only the individual can know what they really want and need,” said Fekaiki in a statement.

In March, PYMNTS reported as businesses seek new ways to attract and retain employees as staff fled the workforce during the pandemic, there is rise of new expectations for a post-pandemic workplace.

Read more: Businesses Offer Creative Perks, Benefits to Meet Employees’ New Expectations

These offerings come in response to the continuing challenge of adding and keeping employees. PYMNTS research has found that 41% of Main Street businesses said difficulties hiring employees is an obstacle to success in 2022. Fourteen percent of these businesses said it is their biggest challenge.