Dublin, 22nd May 2025 – Kota, the insurance benefits platform and API, today announced it has raised $14.5m in Series A funding bringing total funding to $22.9 million. 

The round was led by Eurazeo, along with existing investors EQT Ventures, Northzone, Frontline Ventures and new investors in 9Yards and Plug and Play. The investment will power Kota’s mission to make employee benefits globally accessible and frictionless for employees - delivered through its intuitive platform and flexible API. Alongside their Series A, they are also announcing that they’ve obtained their Central Bank of Ireland Authorisation, making it one of the few technology platforms to be regulated .

Kota is rebuilding employee benefits from the ground up. Millions miss out on essentials like pensions and healthcare - not because employers don’t care, but because the system is broken. Legacy providers, PDFs, and manual processes make benefits inaccessible and unmanageable. Kota fixes this. Like Revolut did for banking, Kota delivers a modern, user-first experience for employee benefits. It integrates directly with insurers and pension providers, giving employees real-time access and control, and HR teams a single, reliable platform to manage everything. By combining their regulation, infrastructure, and user friendly platform and app, they make benefits effortless for HR & Finance, and engaging for employees. 

The funding will be used to expand the Kota team, increase the variety of insurance carrier partners in its products, and accelerate customer acquisition. 

Luke Mackey Founder and CEO said “Employee benefits, which can make up 25% of total compensation, are systematically undervaluedundervalued as compensation and expensivecostly to administer. I experienced this as a founder and a GM ––- managing benefits in email, between brokers and insurance companies, completely disconnected and alien from anything else in the business. It's entirely out of date. Ultimately, no one on the team connected or engaged with them, no matter how much we invested. It's not surprising. Insurance benefits are delivered in clunky portals or in PDFs, which is so unengaging compared to the financial experiences employees are used to.

.Mackey continued, “Kota integrates directly with insurance companies so we can control that experience and make it easy to roll out and run benefits, no matter who you are or where your team is. This means that employees can quickly understand, enrol, access coverage, retirement plans, or other benefits, and actually value them.”

Elise Stern from Eurazeo who led the round said “Kota really stood out to us. With a tech-first approach, they’ve built a robust technical and financial infrastructure: deep integrations with insurers across dozens of countries, visibility across the benefits stack, and a seamless API that allows partners — -  from HRIS to payroll — -  to embed benefits natively. Having backed companies like Swile, PayFit, Peakon, and Qonto at Eurazeo, we’ve been long-term believers in the power of tech to reshape the way people work. Kota fits right into that vision, and we’re excited to welcome them to the portfolio.”

Since launching in 2023, Kota has helped hundreds of small and medium sized companies seamlessly access, easily manage, along with tens of thousands of employees understand and value their cover. Kota integrates with and offers some of Europe’s leading insurance providers, like Vitality in the UK, ONVZ in the Netherlands, Sanitas in Spain, Allianz Global CarePartners internationally, and many more. Kota powers benefits for Remote.com, and has become the benefits platform of choice for leading scale-ups across Europe such as Zoe Health, Poolside, Carwow, Tines, &Open and Protex AI.

Last year, they launched Kota Embed, their embedded insurance offering for HR platforms to make insurance benefits available to their customers without leaving their HRIS or Payroll tool, with customers like Remote, Helios and insurance companies like Irish Life Health as customers.

Historically employee benefits have lived offline outside the stack that HR and employees have come accustomed to and are difficult to manage and understand. Employee benefits, while growing into a $70bn market, are still completely unfit for lean, forward-thinking start-ups and scale-ups – particularly those with growing remote workforces. This is due to its excessive complexity, cost and administration. For Millennials and Gen Z, meaningful employee  benefits aren’t a perk—they’re an expectation. Kota makes delivering them simple. Kota replaces the middleme