The employee benefits consulting industry in DACH focuses on enhancing workforce satisfaction and optimizing benefits offerings. Various companies, from traditional consulting giants to innovative startups, help organizations design and manage employee wellness programs, retirement plans, and health benefits. Insights reveal that with an increasing emphasis on work-life balance and mental health, firms are pivoting towards personalized benefits solutions. The industry is embracing technology, as digital platforms provide data-driven insights to drive engagement and compliance while responding to evolving regulatory frameworks. Overall, the industry is set for a growth trajectory, fueled by the rising demand for tailored employee support.


The investor landscape for employee benefits consulting in DACH sees a mix of corporate entities and venture capitalists. Headquartered across Switzerland, Germany, and Austria, these investors vary significantly in size and approach, from nimble firms like Picus Capital with 28 deals in 2024 to large corporations like Deutsche Bank, boasting over 10,000 employees. Founded between 1870 and 2018, with a range of investments spanning various sectors, they collectively highlight the dynamic nature of the market. With numerous deals already completed in 2024, these investors are instrumental in shaping the future of employee benefits solutions.


Top 13 Employee Benefits Consulting 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 Munich-based venture capital firm founded in 2015, specializing in early-stage technology investments. With a focus on empowering innovative startups, Picus Capital provides not only capital but also strategic guidance and HR support. They have made significant investments across various sectors, including fintech and healthcare. Notably, Picus Capital co-led a $33 million seed funding round for Bennie, a New York-based employee benefits platform aimed at enhancing access to better benefits for employees. Additionally, they have been involved in multiple funding rounds for WorkMotion, a company that offers solutions for global employment, which is closely related to employee benefits consulting. These transactions highlight Picus Capital's commitment to supporting companies that are directly impacting the employee benefits landscape.


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. Their investment focus spans various technology sectors, including Deep Tech, Fintech, and SaaS. Notably, Speedinvest has been involved in significant transactions within the employee benefits consulting context, such as their investments in Cobee, which raised a total of €40 million in Series B funding and over $16 million in Series A funding for its employee benefits app. Additionally, they participated in the seed funding rounds for Fertifa, a startup focused on reproductive health, which aligns with employee benefits related to health and wellness. Speedinvest leverages a vast network of industry experts to assist their portfolio companies, enhancing their potential for success in the employee benefits sector.


3. 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 landscape. Allygatr provides consulting services to help businesses navigate the evolving HR technology sector. In recent years, they have made several investments in early-stage companies, including emplu, Lene Health, and Hidden Smiles, all of which focus on enhancing HR solutions. These investments reflect allygatr's commitment to supporting the growth of innovative startups that can contribute to the employee benefits consulting industry.


4. 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 solutions tailored for institutional investors, private banks, and individual clients. Notably, Partners Group has made significant strides in the employee benefits consulting sector through its acquisition of Foundation Risk Partners (FRP), a US-based insurance broker, from Warburg Pincus in August 2022. This strategic move highlights their commitment to expanding their portfolio in the insurance and employee benefits consulting space. Additionally, their earlier investment in Acrisure, which raised $2 billion in December 2018, further underscores their engagement in the insurance industry, reinforcing their relevance in the employee benefits consulting market.


5. 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 supported over 270 startups, providing not only funding but also expertise and resources to help these businesses thrive in competitive markets. Notably, IBB Ventures has made investments in companies relevant to employee benefits consulting, such as Likeminded, which offers a B2B digital mental health solution, and machtfit, which focuses on fitness and wellness. Their recent transactions, including a €1.5M investment in Likeminded and participation in funding rounds for machtfit, highlight their commitment to supporting innovative solutions that enhance employee well-being and engagement, key components of employee benefits consulting.


6. Angel Invest


Angel Invest is a venture capital firm based in Berlin, Germany, founded in 2018. The firm specializes in angel investments in early-stage technology startups, providing both funding and strategic guidance to help founders achieve product-market fit and prepare for Series A funding. In 2024, Angel Invest has made 23 investments, showcasing their active role in the startup ecosystem. Notably, they have invested in CoachHub, which raised $21 million in a Series A round in December 2019, focusing on coaching solutions that enhance employee performance and well-being. This aligns with the employee benefits consulting industry, as it directly contributes to employee development and engagement. Other investments include symmetrical.ai, which has raised significant funding in seed rounds, indicating a focus on innovative technology solutions that could also intersect with employee benefits.


7. 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. La Famiglia focuses on enabling disruptive innovations across various industries, leveraging the expertise of world-leading entrepreneurs in its network. Notable transactions include their investment in Back Technologies, which raised €2.9 million to enhance its employee request platform, and their participation in Maven Clinic's Series E round, which raised $90 million and is relevant to employee health benefits. Additionally, they invested in Personio, a company that provides HR software solutions, further aligning with employee benefits consulting.


8. Sgs

  • Website: sgs.com
  • Type: Corporate
  • Headquarters: Geneva, Geneva, Switzerland
  • Founded year: 1878
  • Headcount: 10001+
  • Number of deals in 2024: 5
  • LinkedIn: sgs

SGS S.A. is a leading testing, inspection, and certification company based in Geneva, Switzerland, with a history dating back to 1878. The company provides independent services to ensure product quality and compliance across various industries. SGS has a global presence and offers a wide range of services, including testing, inspection, certification, and training, aimed at helping clients meet regulatory standards and enhance operational efficiency. In recent years, SGS has made several strategic acquisitions to bolster its capabilities. Notably, the acquisition of Maine Pointe in July 2019, a consulting firm focused on performance improvement, signifies SGS's intent to enhance its consultancy services. This move could potentially include aspects of employee benefits consulting as part of its broader performance enhancement strategy. Other acquisitions, such as those of FTS Inc. and MIS Environmental, primarily focus on asset integrity management and environmental services, respectively, which are less relevant to employee benefits consulting.


9. Atlantic Labs

  • Website: atlanticlabs.de
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2013
  • Headcount: 11-50
  • Number of deals in 2024: 13
  • LinkedIn: atlantic-labs

Atlantic Labs is a venture capital firm based in Berlin, Germany, founded in 2013. The firm supports exceptional, mission-driven founders throughout their entrepreneurial journey, focusing on startups across various sectors, including climate tech, AI, and digital health. Notably, Atlantic Labs has participated in several transactions that are relevant to the employee benefits consulting industry. For instance, they were involved in the funding rounds for SureIn, a Berlin-based insurtech startup that aims to enhance product automation and expand its offerings to include healthcare and pension plans. Additionally, their investment in Lano, which raised significant funds to facilitate global employment solutions, further demonstrates their engagement in areas that intersect with employee benefits. Overall, Atlantic Labs provides both capital and strategic guidance to help businesses grow, making them a versatile investor in the startup ecosystem.


10. The Adecco Group


The Adecco Group is a leading staffing agency based in Zurich, Switzerland, providing a wide range of human resource services, including temporary staffing, permanent job placement, and talent development. Founded in 1996, the company has grown to employ over 10,000 people and serves businesses across various sectors, helping them manage their workforce needs effectively. Notably, Adecco has made several strategic acquisitions to enhance its consulting capabilities. For instance, the acquisition of Knightsbridge Human Capital Solutions in 2015 aimed to bolster their talent management and consulting services. Similarly, their acquisition of 50.5% of Altedia in 2005 allowed them to combine their career transition services in France and Spain, further integrating employee benefits consulting into their offerings. Additionally, the acquisition of Vettery in 2018 for $100 million reflects their commitment to expanding their recruitment and talent management services, which are integral to employee benefits consulting.


11. Capnamic

  • Website: capnamic.com
  • Type: Venture Capital
  • Headquarters: Cologne, North Rhine-Westphalia, Germany
  • Founded year: 2012
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: capnamic-ventures

Capnamic is a venture capital firm based in Cologne, North Rhine-Westphalia, Germany, founded in 2012. The firm specializes in early-stage investments, providing funding and strategic support to startups to help them thrive in competitive markets. Capnamic focuses on delivering high returns to its investors through careful portfolio management and investment strategies. Notably, Capnamic has participated in several funding rounds for companies like Circula, a SaaS provider that raised significant capital to support its international expansion, which is relevant to employee benefits consulting. Additionally, they co-led a funding round for Sharpist, a company that may also intersect with employee development and benefits. Their investments in these companies demonstrate their interest in the employee benefits consulting space, making them a relevant player in this sector.


12. Visionaries Club

  • Website: visionaries.vc
  • Type: Venture Capital
  • Headquarters: Berlin, Berlin, Germany
  • Founded year: 2019
  • Headcount: 11-50
  • Number of deals in 2024: 7
  • LinkedIn: visionaries-club

Visionaries Club is a venture capital firm based in Berlin, Germany, founded in 2019. The firm focuses on supporting startups and entrepreneurs in the technology sector, providing both investment and consulting services to help these businesses grow and succeed. Visionaries Club aims to empower the next generation of innovators by connecting with successful entrepreneurs. Notably, they have invested in Personio, which raised $40 million in Series B funding and is a key player in HR software, and Leapsome, a people management platform that raised $60 million in Series A funding. These investments highlight Visionaries Club's engagement in the employee benefits consulting space, as both companies offer solutions that enhance employee management and benefits administration.


13. Deutsche Bank

  • Website: db.com
  • Type: Corporate
  • Headquarters: Frankfurt, Hesse, Germany
  • Founded year: 1870
  • Headcount: 10001+
  • Number of deals in 2024: 32
  • LinkedIn: deutsche-bank

Deutsche Bank AG, founded in 1870 and headquartered in Frankfurt, Hesse, Germany, is a leading investment bank and financial services provider. With over 10,000 employees, the bank offers a wide range of solutions including investment banking, corporate banking, cash management, trade finance, and securities services. Deutsche Bank serves corporate and institutional clients, helping them manage their financial assets and liquidity effectively through its digital platform, Autobahn. Notably, Deutsche Bank has made strategic investments in the employee benefits consulting context, such as a sizable equity investment in SkyHive, a workforce technology innovator, which aligns with the increasing demand for innovative workforce solutions. Additionally, their investment in the WorkMentality Foundation highlights their commitment to employee well-being, further emphasizing their relevance in the employee benefits consulting space.



Employee Benefits Consulting Insights: Key Investors in DACH


InvestorHeadquarterSizeFoundedDeals 2024
Picus CapitalMunich, Bavaria, Germany11-50201528
SpeedinvestVienna, Vienna, Austria51-200201145
allygatrBerlin, Berlin, Germany11-5020123
Partners GroupBaar, Zug, Switzerland1001-5000199619
IBB VenturesBerlin, Berlin, Germany11-50199718
Angel InvestBerlin, Berlin, Germany1-10201823
La FamigliaBerlin, Berlin, Germany11-5020164
SgsGeneva, Geneva, Switzerland10001+18785
Atlantic LabsBerlin, Berlin, Germany11-50201313
The Adecco GroupZurich, Zurich, Switzerland10001+19960
CapnamicCologne, North Rhine-Westphalia, Germany11-5020126
Visionaries ClubBerlin, Berlin, Germany11-5020197
Deutsche BankFrankfurt, Hesse, Germany10001+187032


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