- November 2022: Voya Financial bought Benefitfocus, a benefits administration technology company, in a deal valued around $570 million that closed in January 2023, integrating Benefitfocus's platform to expand Voya's health and wealth solutions for employers, health plans, and employees.
- Benefitfocus (BNFT) had its Initial Public Offering (IPO) on Wednesday, September 18, 2013, on the Nasdaq stock exchange, pricing at $26.50 per share and seeing a strong debut, with its stock price more than doubling on its first day of trading as investors showed confidence in cloud-based benefits software. The company, based in Charleston, SC, raised about $130 million from the offering.
Description
Benefitfocus, Inc. is a provider of cloud-based benefits software solutions for consumers, employers, insurance carriers, and brokers. The Benefitfocus platform provides an integrated suite of solutions that enables its employer and insurance carrier customers to more efficiently shop, enroll, manage, and exchange benefits information. The Company’s solutions supports benefits plans, including healthcare, dental, life, and disability insurance, and voluntary benefits plans. The Company provide a multi-tenant cloud-based benefit platform to the employer and carrier markets.
Key stats and ratios
| Q2 (Jun '13) | 2012 | |
| Net profit margin | -31.51% | -18.03% |
| Operating margin | -31.06% | -17.67% |
| EBITD margin | - | -7.52% |
| Return on average assets | -56.72% | -30.02% |
| Return on average equity | - | - |
| Employees | 800 |
