Investment firm Rosemark Smart Capital led a $23.3 million Series C round for enterprise benefits tech business Jiff, according to a company statement. The funding comes as the company is poised to launch its new employer wellness product Jiff Navigator, according to a company statement.
It marked the first investment for Rosemark, which got started last year.
Other investors in the Series C round included GE Ventures, which is also a new investor. Existing investors Venrock Associates, Aberdare Ventures and Aeris Capital also took part. Jiff previously raised $18.5 million in a Series B last year led by Venrock.
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Two years ago, Jiff CEO Derek Newell said one of the goals of the new product is to make integrating employer and employee health programs cheaper and easier without employers having to build one themselves through a software-as-a-service platform. Users can also pick incentive tools and have access to thousands of apps and programs on the platform that are compatible with each other. In the past year Jiff has doubled its workforce, according to the statement.
Employer wellness programs can be an ethical minefield and have raised questions about how much money they actually save. But big employers have been adopting these programs and employer wellness technology companies have been competing for what’s seen to be a $5 billion opportunity. Earlier this week Welltok acquired Predilytics in part to ramp up its ability to personalize employer wellness programs.