Balance Point Announces its Follow-On Investment in BenefitHub
Westport, CT, September 19, 2024 – Balance Point Capital Advisors, LLC (“Balance Point”), in conjunction with its affiliated funds, Balance Point Capital Partners IV, L.P. and Balance Point Capital Partners V, L.P., is pleased to announce its follow-on investment in BenefitHub (“BenefitHub”, or the “Company”). Balance Point provided debt and equity capital to facilitate BenefitHub’s acquisition of Abenity.
BenefitHub, a global provider of voluntary benefits and discounts to the country’s top employers and membership organizations, completed a strategic transaction to acquire Abenity, a Tennessee-based provider of private perks programs.
Leveraging a direct-to-member model, Abenity helps employers, alumni groups, and associations supplement their benefits offering with thousands of private perks, discounts, and corporate rates on consumer goods and experiences. Abenity’s perks platform offers a top-rated mobile app featuring location-based deal alerts, one-click smart links for easy enrollment, complete content controls, and white-labeling options.
“This deal reinforces BenefitHub’s commitment to employees and membership organizations. With inflation persisting at high levels and continued diminishing consumer purchasing power, our millions of registered users are looking for the best and most accessible deals possible,” said BenefitHub CEO Jeff Litvack. “Pairing BenefitHub’s trusted platform and suite of products with Abenity’s in-line store solution will make accessing these deals quicker and easier.”
“Balance Point is excited to continue supporting BenefitHub and the Inverness Graham team as the Company experiences impressive organic growth across its business units,” said Balance Point Partner Adam Sauerteig.
“We are pleased about the trajectory of the BenefitHub platform,” said Inverness Graham Principal Chris Frystock. “Balance Point has been a great partner to us on this deal and shares our vision to create a market leading employee perks and voluntary benefits platform.”
About Balance Point
Balance Point is an alternative investment manager focused on the lower middle market. With approximately $2.1 billion in assets under management, Balance Point invests debt and equity capital in select lower middle market companies across a variety of investment vehicles. Balance Point takes a long-term, partnership approach to investing and is committed to building lasting relationships with its partners, management teams and intermediaries.
Balance Point is a registered investment advisor. Further information is available at www.balancepointcapital.com.
About BenefitHub
BenefitHub is a cloud-based marketplace and platform for voluntary benefits and perks and is fully customizable to meet the unique needs of organizations. Trusted by five of the top ten largest employers in the U.S. and embraced by 32% of Fortune 50 companies, BenefitHub is deployed across more than 15,000 client organizations globally, serving over 14 million employees. Through BenefitHub, employees gain exclusive access to a diverse range of discounts, voluntary benefits, and perks, including millions of discounted event tickets, local deals, restaurant offerings, and special rates on essential services like cell phone plans and auto insurance. The marketplace includes over 300,000 vendor partnerships who enjoy privileged access to, and who connect with, our exclusive network of millions of engaged employees and buyers. BenefitHub is also endorsed and marketed by most of the top employee benefit brokers in the U.S.
For more information, visit www.benefithub.com
