Brazilian employee benefits platform Flash raised a $29M Series D led by existing investors Battery Ventures and Kevin Efrusy, with participation from Endeavor Catalyst. The round comes more than four years after Flash raised a $100M Series C.
Flash provides a platform that combines employee benefits, human resources, and corporate expense management.
With the funds, Flash will develop new products, expand its AI capabilities, grow its sales team, and strengthen its capital structure. It also plans to resume acquisitions, following its purchases of workforce management platform FolhaCerta in 2023 and expense management platform ExpenseOn.
Flash serves about 60,000 companies and more than 2 million workers. The company has been cash flow positive for nearly a year and ranks as the fifth largest employee benefits provider in Brazil.
Source: LatamList
