Benefex announces acquisition of Cloud8
After a year of exceptional growth, today Benefex has acquired Cloud8 and its BEAM at WorkTM platform.
9 October 2023, LONDON – Benefex has acquired Cloud8 and its entire product set designed to deliver a better employee benefits experience to employees of SMEs and high growth organisations. The Cloud8 team will also join Benefex as part the acquisition.
With a focus on simplicity for its end users, Cloud8’s software and APIs are opening up employee benefits to SMEs and improving work outcomes for tens of thousands of UK employees.
On announcing the deal, George Herat, Managing Director High Growth & SME 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.”
Dipa Mistry Kandola, CEO at Cloud8 added, “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.”
The deal marks the continuation of Benefex’s investment in being able to provide online benefits management for all organisations, from SMEs to global enterprises. The founder & CEO of Benefex, Matt Macri-Waller commented, “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.”