Compt raises $13 million

Compt, an employee perk stipend software company optimized for today’s more-flexible workplace, announced a $13 million Series A investment led by Battery Ventures.

Founded in 2018, the Massachusetts-based startup allows companies to offer stipends in broad categories like health and wellness or family. Employees then pick services in the categories that appeal to them. To get reimbursed, employees upload photos of receipts via Compt’s application or its direct integration into Slack.

“Compt has built a truly innovative, flexible benefits software for today’s workforce, offering a service that allows companies to communicate their shared values with employees. Its ease-of-use is also a huge selling point for HR administrators, who have been on the front lines of the dramatic workplace evolution we’ve seen in the last few years, from Covid-19 and other factors, and are struggling to adapt existing programs. We’re extremely excited to back Compt and help the company scale.” – Neeraj Agrawal, general partner at Battery Ventures.

Bottom Line: In the space of Benepass.