Tuesday, February 27, 2024
HomeFunding Dublin-based Kota Secures €5 million in Seed Funding

[Funding alert] Dublin-based Kota Secures €5 million in Seed Funding

Dublin-based Kota secures €5 million in seed funding. This round was led by our new partners, EQT Ventures, with participation from our early partners Northzone and Frontline Ventures, as well as some incredible new angels including Job van der Voort of Remote, Romain Huet of Open AI (formerly of Stripe), David Clarke formerly of Workday and many others.
Team – Kota

Dublin-based Kota secures €5 million in seed funding. This round was led by our new partners, EQT Ventures, with participation from their early partners Northzone and Frontline Ventures, as well as some incredible new angels including Job van der Voort of Remote, Romain Huet of Open AI (formerly of Stripe), David Clarke formerly of Workday and many others.

While funding is a milestone and more validation of their hypothesis, they know it’s a means to an end. They are staying focused on building the best product for their customers while expanding their market availability and the coverage options.

Read also – Germany-based Soluterials Secures Seven Figure in Seed Funding

Investors are namely Naza at EQT, Deepka at Northzone and Zoe at Frontline, for being great partners. They look forward to building together over the next decade.

Luke Mackey, Co-Founder and CEO of Kota, said: “Employee health and retirement benefits are the Achilles heel of HR and finance teams. They are managed through spreadsheets, portals and email – completely fragmented, offline and lacking interoperability. This is little surprise given, unlike other areas of HR and Finance where modern tools have revolutionised workflows, this industry is still dominated by old-school brokerages with an admin-heavy model. Kota is first to market with a platform that is automating workflows through data synchronisation and reconciliation, integrating with top-tier health, life and pension providers, and ultimately, delivering employees access to the benefits that they deserve.”

About Kota

They founded Kota last year with a mission to increase access to traditional financial and insurance products for a new generation of employers and employees. At the end of 2022, they launched their private beta and, earlier this year, launched to the market, bringing new customers onto the Kota platform.

Read also – Copenhagen-based Klimate.co Raises €3.5 million in Seed Funding

Today, they are covering employees in over 30 countries, have integrations into world-leading health insurance, life insurance and pension providers such as Irish Life, Allianz, Smart Pension, and have people-first companies like &Open, Spotlight Oral Care, Unmind, Fonoa and many others trusting Kota to cover their teams.

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