Irish insurance and HRtech company Kota has raised $14.5 million in Series A funding, bringing its total funding to $22.9 million.
Alongside their Series A, they are also announcing that they’ve obtained their Central Bank of Ireland Authorisation, making it one of the few technology platforms to be regulated.
Kota is rebuilding employee benefits from the ground up. Millions miss out on essentials like pensions and healthcare, but because the system is broken.
Legacy providers, PDFs, and manual processes make benefits inaccessible and unmanageable. Kota fixes this.
Kota delivers a modern, user-first experience for employee benefits. It integrates directly with insurers and pension providers, giving employees real-time access and control, and HR teams a single, reliable platform to manage everything.
By combining its regulation, infrastructure, and user-friendly platform and app, it makes benefits effortless for HR and Finance, and engaging for employees.
The funding will be used to expand the Kota team, increase the variety of insurance carrier partners in its products, and accelerate customer acquisition.
Luke Mackey, Founder and CEO, said:
“Employee benefits, which can make up 25 per cent of total compensation, are systematically undervalued and expensive.”
He experienced this as a founder and a GM, where managing benefits in email, between brokers and insurance companies, was completely disconnected and alien from anything else in the business.
“It's entirely out of date. Ultimately, no one on the team connected or engaged with them, no matter how much we invested.
It's not surprising. Insurance benefits are delivered in clunky portals or in PDFs, which is so unengaging compared to the financial experiences employees are used to.”
Kota integrates directly with insurance companies and makes it easy to roll out and run benefits, no matter who you are or where your team is.
“This means that employees can quickly understand, enrol, access coverage, retirement plans, or other benefits, and actually value them.”
Eurazeo led the round, along with existing investors EQT Ventures, Northzone, Frontline Venture, and new investors in 9Yards and Plug and Play.
According to Elise Stern from Eurazeo, with Kota’s tech-first approach, they’ve built a robust technical and financial infrastructure: “deep integrations with insurers across dozens of countries, visibility across the benefits stack, and a seamless API that allows partners— from HRIS to payroll—to embed benefits natively.”
Since launching in 2023, Kota has helped hundreds of SMEs seamlessly access, easily manage, enabling tens of thousands of employees to understand and value their cover.
Last year, they launched Kota Embed, their embedded insurance offering for HR platforms to make insurance benefits available to their customers without leaving their HRIS or Payroll tool.
The investment will power Kota’s mission to make employee benefits globally accessible and frictionless for employees, delivered through its intuitive platform and flexible API.
Lead image: Kota's founders. Photo: uncredited.
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