Benefex has acquired digital employee benefits solutions provider Cloud8 and its Beam at WorkTM platform.
Cloud8 is a white-labelled software as-a-service (SaaS) workplace benefits provider. Its team will join Benefex as part of the acquisition.
Cloud8 CEO Dipa Mistry Kandola said: “Over the last year we have been seeking a new long-term investment partner to take our platform to the next level in its evolutionary journey.
“We’re delighted that this investment comes from Benefex, a highly respected business that has a strong presence in the employee benefits technology marketplace.”
George Herat, managing director high growth and small and medium-sized enterprises (SMEs) at Benefex, who led the transaction, said: “We are incredibly excited to be welcoming the Cloud8 business to Benefex, including its intuitive, cloud-based employee benefits platform –purpose built for SMEs.
“Our shared focus on product-led innovation, combined with a group of fantastic channel partners, massively increases our ability to help ambitious organisations power exceptional employee experiences.”
Matt Macri-Waller, founder and CEO of Benefex, added: “We see huge growth opportunities across the entire benefits market.
“Cloud8 has an enviable network of resellers and partners. We want to continue to support them to grow their businesses.
“As a result, we will be accelerating our investment, focus and commitment to these partners and those organisations in this portion of the market.”