Company: BEANSTALK BENEFITS

Headquarters: Philadelphia, PA

Year Founded: 2022

1. What problem was Beanstalk founded to solve?

We built a way for employees to choose their own benefits from 50+ services because HR is burning out managing point solutions some people don’t use. Employers offer an average of 10+ benefits, yet it’s still not enough to appeal to every different employee’s life and age. At the same time, point solutions have become incredibly niche in meaningful ways, making real impacts for people raising toddlers, seeking sobriety, caring for a parent or coping with a disease. We believe the answer to improving employee wellbeing and health, and driving benefits utilization, is to let employees choose what they need.

2. How do you describe Beanstalk's right to win in your market?

We’re leading the market as the only platform to give employees the access and control to build their own benefits portfolios. Our founding team has 70+ years in benefits, and we moved intentionally to fix the weak points we saw across vendor, employer and employee relationships. We vet our vendor partners for their user experience and service, and unlike point solution aggregators, we convene them as a peer group to share best practices. All of our incentives are aligned toward employees choosing and using the resources that make a difference for them. Employers sign just one contract.

3. What are your key goals and definition of success in the next 12 months?

Success means employees of all backgrounds and needs find and use resources that make a difference in their lives, so employers have stronger and more loyal workforces at lower costs. Our near-term goals are to bring our suite of services to the small- and mid-sized market so that any employer of any size can be an employer of choice when it comes to its benefits offerings.