Balderton
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Balderton

Backing employees’ wellbeing; why we invested in Cobee.

We are delighted to announce our recent investment in Cobee, a benefits management platform trusted by some of Europe’s largest firms to improve the wellbeing of their employees through flexible and innovative compensation packages.

Today, more than ever, employees are of the highest importance for companies. In that race for talent, employees increasingly care about benefits that go beyond direct financial compensation and ensuring their wellbeing and retention has become a key priority for Talent and HR teams. This is fueling a dramatic change in employee compensation, with large and small employers adding more benefit products to serve a more demanding employee base.

Cobee’s mission is to solve this challenge by providing employees and employers a flexible product offering them all benefits in a single platform. This enables employees to finally know, in an easy and accessible way, all the benefits at their disposal, use them freely, and bring in suggestions on how to improve benefits.

Meanwhile, for the employer, HR teams benefit from huge time savings, better management of benefits and flexibility on product offering, as well as a more satisfied employee base. Benefits are also a fantastic way for companies to engage with their team, and to define and confirm their culture and values and Cobee strengthens that bond.

Cobee is disrupting this trillion-dollar market by starting first with the employee experience and creating a differentiated digital-first product across a broader range of benefits (such as meal vouchers, childcare, transportation, healthcare, and others) and in a more global way than any other next-generation platform today.

The company was founded in 2019 by Borja Aranguren, Daniel Olea and Nacho Travesí with the aim of improving the well-being of employees through a flexible, innovative and understandable offer of benefits for everyone.

We first met Borja over 2 years ago, and were impressed by his clarity of vision, drive, and sense of insurgency. Since then, he and the team have delivered on every big milestone they went after, expanding their offering, improving the product, and testing their international execution. During 2020, and despite the pandemic, Cobee doubled its workforce and expects to continue to grow its team strongly through the end of the year.

At Balderton, we invest across Europe and I work with teams in France, the UK and more. But, as a Spaniard, it is particularly exciting to see the breadth and depth of the technology ecosystem in Spain today. There is a deep pool of talent across the key skills areas — tech, product, sales, marketing — and increasing levels of ambition. The firm has invested in Spain before but we hope that the journey we are now starting with Cobee is the first of many in Iberia.

We are excited to welcome the Cobee’s team to the Balderton family and help them continue to improve the user experience, both for companies and workers, through further development of its platform and the integration of new benefits.

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