CHICAGO--(BUSINESS WIRE)--Jellyvision, maker of employee communications platform ALEX, announced today that it has raised $20 million from Updata, a leading technology growth equity firm. The funding positions Jellyvision as a leading HR SaaS company and will reward longtime employees and investors.
“Jellyvision is a 100-year-old tech company, give or take 85 years, and we are often recognized for our culture and insanely great people,” said Amanda Lannert, CEO of Jellyvision. “But our people also make insanely great software that’s been selling like gang busters for years. Funding from a top SaaS-focused growth equity firm like Updata validates our strengths as an innovative and fast-growing employee communication SaaS company. We are excited to partner with them and are looking forward to having serious fun with them, too.”
ALEX, Jellyvision’s employee communication SaaS platform, serves over 800 enterprises (including 88 of the Fortune 500Ⓡ), helping 14 million employees make informed decisions about boring and complicated things, namely benefits like health insurance. ALEX uses behavioral science, non-jargony language and humor to engage employees and offer personalized, confidential guidance on topics like choosing a healthcare insurance plan, saving for retirement, managing finances or navigating a leave of absence.
Jellyvision was founded as a video-game company in 1989 and created the popular 90s trivia game “You Don’t Know Jack.” Following the tragic death of the CD-ROM software market, the company pivoted to being an interactive digital agency before landing on its current business - the ALEX employee communication platform - in 2009. Today, Jellyvision employs more than 350 people and is self-funded.
“It’s no secret that the road to success for Jellyvision has been full of twists and turns as we have navigated our way through several different business models,” continued Lannert. “After a long and winding history, we are thrilled to reward longstanding investors and employees, while keeping focus on independent growth and expansion. We have ambitious plans mapped out through 2020, and now, along with Updata, we’re working hard to execute them.”
“Pivoting from consumer games to B2B SaaS would be hard enough, but to do so without burning a bunch of capital is incredible,” said Carter Griffin, General Partner at Updata. “Our investment is an endorsement that the company’s three-phase evolution from in-your-face trivia games to interactive digital agency to SaaS vendor is complete. And beyond technology, Jellyvision’s unique and special culture is something we view as a competitive advantage.”
Jellyvision is an award-winning technology company whose interactive software talks people through important, complex and potentially snooze-inducing life decisions - like choosing a healthcare insurance plan, saving for retirement or managing finances - in simple, fun and engaging ways. Our recipe: behavioral science, great writing, purposeful humor, mighty tech and oregano.
Our SaaS employee communication platform ALEXⓇ is used by more than 800 companies with more than 14 million employees in total – including 88 of the Fortune 500 and 1 in 4 of the country's largest companies. ALEX helps employees make better decisions about more than $90 billion of health insurance premiums, 401(k) allocations and financial wellness. To learn more, visit www.jellyvision.com and www.MeetAlex.com.
About Updata Partners
Updata Partners is a leading technology growth equity firm based in Washington, DC. Led by an investment team averaging more than 25 years of technology experience, Updata invests in high-growth software and software-driven businesses where the combination of our capital and operating experience will help accelerate success.
For more information, visit www.updata.com.