Benefits startup Juno raised $4 million with this pitch deck

  • A startup allowing employees to choose their own benefits has raised $4 million from Hoxton Ventures.
  • London-based Juno offers more than 5,000 services, from childcare to food delivery, to customers around the world.
  • Founder and CEO Ally Fekaiki told Insider about the pitch deck used to raise the funds.

A startup that hosted a benefits marketplace where workers can choose their benefits has raised $4 million from Hoxton Ventures.

London-based Juno was launched in 2019 after founder and CEO Ally Fekaiki saw how widespread burnout was – and realized employee benefits weren’t meeting everyone’s needs .

“The reason perks or perks have been underutilized is that there’s no one-size-fits-all solution,” he told Insider. “The idea was to give employees the power and flexibility to make their own choices.”

Employers give employees money for their benefits in the form of “Juno Points”, which they can use to access a range of more than 5,000 services, from fitness boxes and food delivery to childcare. The startup also offers a Juno card for employees to use subscription-based services and has the ability to reimburse existing services — like childcare or therapy — in nearly 40 different currencies, Fekaiki said.

The startup’s clients include transportation company Bolt, fast delivery startup Zapp, and HR platform Oyster.

Juno makes its money through commission on vendor purchases – and recently introduced an administration fee for brands that want to sell through its platform. For an additional fee, it also offers businesses the ability to promote their services on Juno’s social media pages.

Fekaiki discovered that Juno was attracting investor attention because it was a “fresh category” in the future of the labor sector, which has seen a pandemic-fueled boom as employers adapt. to “changing employee values”.

“The pandemic didn’t invent anything new, but it made us face the existing issues we were experiencing, like flexibility and remote working,” he said. “It reminded us that our system was not designed to be human first, and we saw incredible adoption of a more empathetic way of approaching work.”

The round was led by London-based venture capital firm Hoxton Ventures, which has backed health tech heavyweights such as Babylon Health and Clue, with participation from strategic angels Tony Jamous, CEO of OysterHR, and Paddle CEO Christian Owens. This brings the startup’s total funding to $19.47 million.

“Technological advancements and the next generation of digital natives are our market,” Fekaiki said. “So we focused on building a brand that was genuinely appealing to modern professionals.”

Fekaiki took Insider through the 10-slide pitch deck Juno used to raise the fresh funds — check it out below.

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