Origin, an enterprise benefits intelligence startup, has raised $30 million (£22m) in a Series A+ funding round led by Notion Capital, with participation from Felix Capital, Acadian Ventures and all existing investors. The funding brings Origin’s total funding to over $50 million within twelve months. The Series A+ round was raised at a higher valuation than the Series A, and Origin has also secured growth capital from HSBC Innovation Banking UK. The funding will be used to accelerate employee experience and HCM integrations and expand Origin’s partner platform.
Global benefits have remained fragmented across countries, vendors, brokers, insurers, consultants, retirement providers and point solutions, with information spread across PDFs, policies, renewals, vendor platforms and local documents in multiple languages. Origin addresses this by providing an Enterprise Benefits Intelligence platform that acts as a system of record, insight and action for global benefits. Its platform ingests and structures data from multiple sources into a single queryable system, enabling organisations to understand what they are offering, what they are paying, and where inefficiencies or risks exist. It connects inventory, spend, risk and performance data to identify duplicated coverage, pricing inconsistencies, governance gaps and unmanaged renewals, helping organisations streamline operations and improve employee experience.
The funding will support deeper integrations into the HCM experience layer so benefits information and support is accessible and personalised within employee workflows. It will also support the expansion of Origin’s partner capabilities across brokers, consultants, insurers, retirement plan providers and point solutions, enabling them to deliver improved outcomes to clients.
Origin was founded by the leadership team behind Darwin, a global benefits technology company acquired by Mercer in 2016. The platform has been co-created with multinational organisations including Pfizer, Comcast and BP, which manage benefits across multiple countries and vendors. One Origin client consolidated 13 local insurance policies into a single regional plan, achieving a 20% cost saving.
The biggest barrier in global benefits has always been the lack of a single source of truth. It is a problem we have been trying to solve for fifteen years, and it simply was not possible without AI. That is the unlock that makes it possible to digitise one of the most inefficient areas of enterprise spend. Benefits data is complex, scattered, inconsistent, and constantly changing, exactly the kind of problem AI can solve. Origin creates the first trusted source of truth for benefits information, giving organisations visibility into their total global spend for the first time, so they can optimise it, run benefits operations far more efficiently, and deliver a better experience to employees everywhere.
We back teams with deep domain expertise and the ability to execute. Over the last 12 months, we have seen Origin move with exceptional speed, rapidly acquiring and delivering for complex global clients, while demonstrating a clear, differentiated product vision. We are doubling down because we believe Origin is building the defining platform in this category. Benefits are one of the last major enterprise functions still left behind by the digitisation wave of the last 25 years. AI now makes it possible to build a true system of record and intelligence for benefits, and Origin is leading that shift.
From our first conversations with the Origin team, we were struck by the scale of the opportunity in global benefits. This is a market that is operationally complex, highly fragmented, and long overdue for transformation. We believe Origin is rebuilding the foundational infrastructure for the global benefits ecosystem, and delivering the benefits intelligence that organisations have been missing. We are proud to continue to partner and support Origin in this next phase of growth, and we have strong conviction in their ability to define this category globally.
