Bristol’s Cloud8 has been acquired.
Southampton company Benefex has snapped up the entire product set of the firm – which featured on our inaugural TalentTech 50 ranking this year – behind cloud-based benefits platform BEAM at Work.
The Cloud8 team will join Benefex as part of 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.
“We see huge growth opportunities across the entire benefits market. Cloud8 has an enviable network of resellers and partners,” said Matt Macri-Waller, founder & CEO of Benefex.
“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.”
Dipa Mistry Kandola (pictured), 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.”