BenefitHub, the leading global employee perks and voluntary benefits platform, adds Nashville-based private discount marketplace provider Abenity to meaningfully expand BenefitHub’s reach, product offerings, and market leadership.
New York, Tampa, Fla. and Nashville, Tenn. (August 28, 2024) – BenefitHub, the global market leader in delivering voluntary benefits and discounts to the country’s top employers and membership organizations, announced the close of a strategic transaction to acquire Abenity, a Tennessee-based provider of private perks programs. Over half a billion dollars of goods and services are purchased each year through the combined platforms.
The merger of these former competitors notably complements and expands one of the world’s largest private marketplaces for perks and benefits. The people that turn to BenefitHub and Abenity for savings do so on everything from deeply discounted home and auto insurance to planning travel, to buying tickets to concerts and sporting events, to shopping at their favorite retailers.
“This deal reinforces BenefitHub’s commitment to employers and membership organizations. With inflation at the highest levels seen in 20 years, and consumers purchasing power diminishing daily, our millions of registered users are looking for the best deals possible, so scale matters!” 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.”
Established in 1999, BenefitHub is a leading platform for voluntary benefits and employee engagement, serving over 10 million employees—nearly half the population of New York State. Many of these employees work for global Fortune 500 companies, including Amazon, Walmart, Lowe’s, Johnson & Johnson, American Airlines, UPS, AT&T, and Target. BenefitHub’s cloud-based technology platform empowers employers to offer a comprehensive range of voluntary benefits, insurance products, and discounted consumer goods and services, enhancing recruitment and employee retention. Advertisers benefit from precise customer targeting on the platform, achieving a market-leading return on investment. This value is further amplified by BenefitHub’s robust data and analytics engine, delivering enhanced outcomes for customers, employees, and advertisers alike.
Abenity is a 7x Inc. 5000 company based in Tennessee, launched in 2006 by brothers Brian and Mark Roland. Leveraging their direct-to-member model, the company helps employers, alumni groups, and associations supplement their benefits with thousands of private perks, discounts, and corporate rates on everything from pizza and the zoo to movie tickets, oil changes, theme parks, car rentals, and hotels. Abenity’s perks platform offers a top-rated mobile app as well as advanced features like location-based deal alerts, one-click smart links for easy enrollment, complete content controls, and white-labeling options to align with each organization’s specific branding requirements, including logo and design integration.
“There’s a shared vision here, so we are excited to support Jeff and the BenefitHub board as we join forces to better empower organizations around the world to improve the quality of work-life balance for their people,” said Brian Roland, co-founder and chair of Abenity. “BenefitHub holds an unparalleled geographic reach in our space that will benefit our strategic partners, merchants and member organizations.”
What Abenity and BenefitHub merchants, brokers and member organizations need to know:
- Our commitment to deliver the greatest value to your employees and members remains unchanged
- Members accessing our marketplaces can continue to do so without any disruptions or change to service
- Existing merchants and advertisers can immediately begin marketing offers on both platforms
Acquired by Inverness Graham in April 2024, BenefitHub is actively seeking acquisitions of businesses that provide high quality voluntary benefits and employee engagement capabilities and solutions.
Terms of the transaction were not disclosed.
About BenefitHub
BenefitHub is the leading 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.
About Inverness Graham Investments
Inverness Graham is a Philadelphia based buyout firm that acquires innovative companies where technology is transforming traditional industry. The firm’s Flagship strategy focuses on high-growth businesses in Healthcare, Tech-Enabled Services / Software and Advanced Manufacturing. The firm’s Green Light strategy targets tech-enabled businesses where Environmental Sustainability is a key driver of accelerating growth. Inverness Graham executes a differentiated, repeatable model for value creation through its proprietary Strategic Platform Build approach. Founded by senior executives of the Graham Group, the firm builds upon a 60-year legacy of operational excellence, bringing substantial value creation resources and an innovative mindset to support its portfolio company partners.
Media Contacts:
Yasmin Marinaro
BenefitHub
813-675-2200
yasmin.marinaro@benefithub.com
Wilson Tong
Inverness Graham
610-722-0300
wtong@invernessgraham.com
BenefitHub CEO Jeff Litvack
Photo credit: BenefitHub
Abenity founders and social entrepreneurs Mark and Brian Roland (left to right)
Photo credit: Abenity
