Most businesses offer employee benefits, from healthcare to bicycle or travel loans to access to support lines. However, traditional offers are not always the best for all employees, and despite good intentions, companies cannot adjust their offers.
Based in London JunhoAn online platform for workplace benefits is helping and preparing to raise £ 10m in a Series A round to continue its rapid growth. Juno wants to solidify its position as the largest wellness platform of its kind, supported by the growing awareness of companies about the need to provide meaningful benefits to their employees.
Supported by Mark Pearson Fuel VentureJuno wasn’t impressed, starting when founder and CEO Ally Fekaiki used the then employer’s support program after the bereaved family. “It cost me £ 100, there was a long wait, and the whole experience was just terrible,” he told UKTN. “I wondered what would happen if someone made something that was well designed, customer friendly, tailored, and relevant.”
Juno works by providing employees with a monthly allowance that they can use to purchase services from the market. In other words, employees are not limited in their choices, they can get benefits that are meaningful to them, and they can get the benefits that are most beneficial to them. That may mean a traditional support program, parents may prefer to buy childcare or home cleaning, while others buy an art pass to indulge in cultural therapy. May prefer. Fekaiki emphasizes that this benefits both the company and its employees.
Rapidly growing plate form
Founded in 2019, Juno has grown rapidly as companies move away from traditional employee offers during a pandemic. In 2021 alone, Juno increased its revenue by a factor of 10 and expanded both its customer base and offers.
Juno works by building partnerships with providers such as Barry’s Bootcamp, Patch Plants, Detox Kitchen and Koru Kids. These promote the service on the platform and allow employees to spend their budget to purchase the service. The number of providers is constantly increasing as Juno identifies new providers. There are currently 235 active providers, more than half of which were added this year alone.
In addition, an increasing number of companies are using Juno for employee benefits, with the addition of 80 in 2021. Current clients include Paddle, BornSocial and OysterHR. This growth has given them not only a market-leading position, but also a market-making position. “We are expected to sell over £ 4m by the end of this year, making us the biggest of its kind,” says Fekaiki.
Juno’s unique points
Juno now offers all the services that other employee service providers can’t compete with and can serve them globally. Juno COO Kate Moerel sees this as Juno’s competitive advantage as well as its benefits for its clients. “They have a duty of care and a responsibility for the global workforce,” explains Moerel. “They know that everyone has access to the same level of care, the same level of treatment, and the same level of support, regardless of location, but they may want to spend their time on mental health and well-being. Hmm. “
The service is highly scalable, allowing even small businesses to be competitive with employee offers. “Many SMEs are adopting this because they may not have a talent development department, but they want to provide benefits for large companies,” says Fekaiki.
Juno is also an attractive outlook for those who want to ensure that spending supports a wider economy. “Many members appreciate Juno because we support an ethical, sustainable and independent brand,” says Moerel. This means that you can ensure that your employees fund their ethical businesses while helping those small, independent businesses win their businesses on major global platforms.
Fekaiki is keen to maintain Juno’s growth momentum with Series A funding. The London-based platform has global customers, but they are keen to expand into the US market and plan offices in New York and Los Angeles. “There is a lot of traction in the United States. We are so slim that we want to expand our sales and marketing, and product and engineering teams,” says Fekaiki.
In particular, Fekaiki and Moerel want to expand Juno’s role in providing effective and meaningful welfare products to its employees and benefiting both. “One of the great things about Juno is that it’s not just for you,” says Moerel. mental health And happiness, it’s also about your learning and development as an employee within the enterprise. “
Interview with Akansha Srivastava
https://www.uktech.news/news/this-london-startup-wants-to-tackle-employee-wellbeing-crisis-in-the-world-to-raise-10m-in-2021-20210803 The London startup wants to tackle the global employee well-being crisis to raise £ 10m in 2021.