CHICAGO--(BUSINESS WIRE)--We are pleased to announce that Updata Partners V has completed an investment into Chicago, IL-based Jellyvision, a high-growth SaaS human resources business. Jellyvision licenses its technology to over 800 companies who make it available to their more than 14 million employees. The Company serves some of the most recognizable brands in the US and 88 of the Fortune 500®, including companies like Medtronic, Adobe, and Best Buy.
Jellyvision’s software platform, called ALEX, interacts with employees and talks them through important, complex life decisions – like choosing a healthcare insurance plan, saving for retirement or managing finances – in simple, fun, and engaging ways. ALEX guides decisions for more than $90 billion of employee spend on health insurance premiums, 401(k) allocations, and financial wellness.
Jellyvision is a great fit for Updata:
- Jellyvision is the leader in a rapidly growing market where companies are looking to reduce health insurance costs, save time and money on internal communications and improve employees’ financial wellness and retirement readiness.
- The Company has demonstrated significant recurring revenue scale and growth, with validation from many of the world’s largest employers.
- Jellyvision has been capital efficient. Updata is the first institutional investor in Jellyvision since the introduction of ALEX in 2012.
Updata General Partner Carter Griffin has joined the Company’s Board of Directors. We look forward to partnering with CEO Amanda Lannert and founder Harry Gottlieb and the rest of the Jellyvision team to help continue the Company’s exciting momentum.
Jellyvision’s press release can be found here.