The employee benefits industry in DACH focuses on supporting workforce wellness and engagement through tailored offerings. Companies in this sector range from insurtech firms providing health insurance solutions to tech startups delivering innovative platforms for employee assistance programs. This industry is evolving rapidly, with an increasing emphasis on mental health, flexible working arrangements, and personalized benefit packages. Insights show a growing demand for digital tools that streamline benefits management, reflecting the shift toward hybrid work environments and the changing expectations of employees. As companies navigate these changes, the responsibility of providing meaningful employee benefits continues to rise.


In 2024, a varied group of 12 investors played a critical role in shaping the employee benefits industry across DACH. These investors include venture capitalists like Seedstars and corporates such as Allianz. Their offices span key cities like Munich and Berlin, and they collectively count over 120 active individuals, with numerous deals reflecting their commitment to early-stage and growth investments. Founded between 1996 and 2018, these firms represent varying investment strategies and sizes, focusing on financing innovative solutions in employee wellness that are reshaping the future of work for companies and employees alike.


Top 12 Employee Benefits Investors in DACH


1. Picus Capital

  • Website: picuscap.com
  • Type: Venture Capital
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2015
  • Headcount: 11-50
  • Number of deals in 2024: 28
  • LinkedIn: picus-capital

Picus Capital is a venture capital firm based in Munich, Bavaria, Germany, founded in 2015. The firm specializes in early-stage technology investments and partners with innovative startups across various sectors, including fintech and healthcare. They provide not only capital but also strategic guidance and HR support to empower entrepreneurs in building sustainable category leaders globally. Notably, Picus Capital has invested in Caju, a company that raised $25 million in a Series B round to expand its employee benefits technology offerings, and WorkMotion, which has raised significant funding to enhance its HR and employment solutions. These transactions highlight Picus Capital's commitment to supporting companies that are directly involved in the employee benefits industry.


2. Speedinvest

  • Website: speedinvest.com
  • Type: Venture Capital
  • Headquarters: Vienna, Vienna, Austria
  • Founded year: 2011
  • Headcount: 51-200
  • Number of deals in 2024: 45
  • LinkedIn: speedinvest

Speedinvest is a venture capital firm based in Vienna, Austria, founded in 2011. The firm specializes in funding early-stage tech startups across Europe, providing both capital and hands-on support to help these startups scale their operations. Speedinvest focuses on various technology sectors, including Deep Tech, Fintech, and SaaS, leveraging a vast network of industry experts to assist their portfolio companies. Notably, Speedinvest has been involved in significant transactions within the employee benefits context, such as their investments in Cobee, a Spain-based employee benefits app, where they participated in multiple funding rounds totaling over €40 million. Additionally, they invested in Fertifa, a reproductive health startup, which aligns with employee wellness initiatives. These transactions highlight Speedinvest's commitment to supporting innovative solutions in the employee benefits space.


3. IBB Ventures


IBB Ventures is a venture capital firm based in Berlin, Germany, founded in 1997. The firm specializes in early-stage financing and has invested in over 270 startups, providing not only funding but also expertise and resources to help these businesses thrive in a competitive market. Among their notable transactions, IBB Ventures has invested in Likeminded, a Berlin-based provider of a B2B digital mental health solution, which raised €1.5M in Seed funding to expand its operations. This investment highlights IBB Ventures' focus on companies that contribute to employee well-being. Additionally, they have invested in machtfit, a company that promotes fitness solutions, further emphasizing their interest in health-related employee benefits. Their diverse portfolio and strategic investments in health and wellness startups position them as a significant player in the employee benefits sector.


4. La Famiglia

  • Website: lafamiglia.vc
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: la-famiglia-vc

La Famiglia is a venture capital fund based in Berlin, Germany, founded in 2016. The firm specializes in early-stage and growth-stage investments in technology companies, providing capital, market access, and strategic partnerships to tech entrepreneurs. They focus on enabling disruptive innovations across various industries, leveraging the expertise of world-leading entrepreneurs in their network. Notably, La Famiglia has made significant investments in companies relevant to employee benefits, including Back Technologies, which raised €2.9 million to enhance its employee request platform, and Maven Clinic, which raised $90 million to expand its healthcare services, directly impacting employee health benefits. Their portfolio reflects a commitment to supporting innovations that improve employee experiences and benefits in the workplace.


5. Allianz

  • Website: allianz.com
  • Type: Corporate
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 1890
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: allianz

Allianz, founded in 1890 and headquartered in Munich, Bavaria, Germany, is a leading global insurance company that offers a wide range of insurance products and investment management services. With a workforce of over 10,000 employees, Allianz focuses on risk management and asset protection, helping individuals and businesses navigate financial uncertainties. In 2024, Allianz made significant moves in the insurance market, including the acquisition of a 51% stake in Income Insurance Limited for approximately USD 1.6 billion, which is expected to strengthen their position in the Asian insurance market. Additionally, Allianz has invested in Homethrive, raising $20 million in Series B funding, which aligns with employee benefits by supporting caregivers and enhancing workplace wellness. These transactions reflect Allianz's commitment to creating long-term value for stakeholders through innovative solutions in the insurance and employee benefits sectors.


6. Partners Group

  • Website: partnersgroup.com
  • Type: Private Equity
  • Headquarters: Baar, Zug, Switzerland
  • Founded year: 1996
  • Headcount: 1001-5000
  • Number of deals in 2024: 19
  • LinkedIn: partners-group

Partners Group Holding AG is a prominent investment management firm based in Baar, Zug, Switzerland, specializing in private equity, private infrastructure, private real estate, and private debt. Founded in 1996, the firm manages over USD 149 billion in assets and is recognized for its innovative investment strategies and commitment to sustainability. Among their notable transactions, Partners Group acquired a controlling stake in Foundation Risk Partners (FRP), a US-based insurance broker, which plays a significant role in the employee benefits sector by providing insurance solutions that cater to employee needs. Additionally, their investment in Darwinbox, which raised $140 million in a private equity round, highlights their engagement in HR technology, further linking them to employee benefits management. These transactions illustrate Partners Group's active role in sectors that directly impact employee benefits, making them a relevant player in this space.


7. Seedstars

  • Website: seedstars.com
  • Type: Venture Capital
  • Headquarters: Carouge, Geneva, Switzerland
  • Founded year: 2012
  • Headcount: 201-500
  • Number of deals in 2024: 6
  • LinkedIn: seedstars

Seedstars is a venture capital firm based in Carouge, Geneva, Switzerland, founded in 2012. The firm focuses on supporting startups and entrepreneurs in emerging markets through various programs, including acceleration and growth initiatives, investment readiness, and the operation of entrepreneurship hubs. Seedstars collaborates with governments, investors, and development agencies to foster entrepreneurial ecosystems and drive social and economic development. Notably, Seedstars has invested in companies like Eden Care Medical, a digital insurer in Rwanda that aims to provide telemedicine services, and Mindtera, which raised funds for mental health solutions. These investments highlight Seedstars' commitment to enhancing health and wellness, which are critical components of employee benefits.


8. Allianz X

  • Website: allianzx.com
  • Type: Corporate
  • Headquarters: Munich, Bavaria, Germany
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: allianzx

Allianz X is a venture capital firm based in Munich, Bavaria, Germany, founded in 2016. It specializes in investing in digital growth companies within the insurtech and fintech sectors, providing strategic support and capital to help these companies scale their operations. Notably, Allianz X participated in the Series B funding round for HeavenHR, a Germany-based human resources software provider, which raised €10 million. This investment highlights Allianz X's engagement in the employee benefits space, as HeavenHR focuses on improving HR processes and employee management. Additionally, Allianz X has made significant investments in companies like Pie Insurance, which, while primarily focused on insurance, also contributes to the broader financial services landscape that includes employee benefits. Overall, Allianz X's strategic investments reflect a commitment to innovation in sectors that can enhance employee benefits and HR functionalities.


9. Point Nine

  • Website: pointnine.com
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2011
  • Headcount: 11-50
  • Number of deals in 2024: 16
  • LinkedIn: point-nine-capital

Point Nine is a venture capital firm based in Berlin, Germany, founded in 2011. The firm specializes in investing in early-stage companies, particularly in the SaaS, enterprise software, and B2B marketplace sectors. They provide funding at the seed stage and are committed to participating in subsequent funding rounds to help startups scale their operations. Notably, Point Nine has invested in Factorial, a Barcelona-based HR software company that raised significant funding across multiple rounds, including a Series B round of $80 million. Factorial's focus on HR solutions positions it within the employee benefits context, as it aims to enhance employee management and benefits. Additionally, Point Nine invested in Pento, which raised funds for its payroll solutions, further emphasizing their interest in the HR and employee benefits space. Overall, Point Nine's portfolio reflects a strong inclination towards technology startups that improve workplace efficiency and employee experience.


10. allygatr


Allygatr is an investment firm based in Berlin, Germany, founded in 2012. The firm specializes in HR technology, investing in startups that are innovating within the human resources sector. In 2021 and 2022, allygatr participated in several Pre-Seed funding rounds for various startups, including emplu, Hidden Smiles, Lene Health, and Ordio, all of which are likely to be developing solutions that can impact employee benefits and HR practices. Their investment in Candoora further emphasizes their commitment to supporting the growth of HR tech startups. By providing both capital and consulting services, allygatr helps businesses navigate the evolving landscape of HR technology, which is crucial for enhancing employee benefits.


11. Angel Invest


Angel Invest is a venture capital firm based in Berlin, Germany, founded in 2018. Specializing in angel investments in early-stage technology startups, they provide both funding and strategic guidance to help founders achieve product-market fit and prepare for Series A funding. In 2024 alone, they have made 23 investments, showcasing their active role in the startup ecosystem. Among their notable transactions, they invested in '150 Minuten', a health platform that aims to develop customized offerings for corporate customers to reduce health complaints in the workplace. This investment highlights their interest in employee wellness solutions. Additionally, they have been involved with 'CoachHub', a company that focuses on coaching and professional development, further emphasizing their commitment to enhancing employee benefits and workplace productivity.


12. b2venture

  • Website: b2venture.vc
  • Type: Venture Capital
  • Headquarters: St. Gallen, St. Gallen, Switzerland
  • Founded year: 2000
  • Headcount: 11-50
  • Number of deals in 2024: 15
  • LinkedIn: btovpartners

b2venture is a venture capital firm based in St. Gallen, Switzerland, founded in 2000. The firm specializes in early-stage investments in innovative startups across various sectors, providing financial backing and support to entrepreneurs. They collaborate with a community of angel investors, enhancing their investment strategy and positioning them as a key player in the European venture capital landscape. Notably, b2venture has invested in ottonova, a digital health insurer that raised significant funds across multiple rounds, indicating a strong focus on health-related employee benefits. Additionally, their investment in Urban Sports Club, which promotes fitness and wellness, further emphasizes their commitment to supporting companies that enhance employee benefits through health and wellness initiatives.



Employee Benefits Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Picus CapitalMunich, Bavaria, Germany11-50201528
SpeedinvestVienna, Vienna, Austria51-200201145
IBB VenturesBerlin, Berlin, Germany11-50199718
La FamigliaBerlin, Berlin, Germany11-5020164
AllianzMunich, Bavaria, Germany10001+18905
Partners GroupBaar, Zug, Switzerland1001-5000199619
SeedstarsCarouge, Geneva, Switzerland201-50020126
Allianz XMunich, Bavaria, Germany11-5020166
Point NineBerlin, Berlin, Germany11-50201116
allygatrBerlin, Berlin, Germany11-5020123
Angel InvestBerlin, Berlin, Germany1-10201823
b2ventureSt. Gallen, St. Gallen, Switzerland11-50200015


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