Can an AI Benefits Platform Improve Employee Outcomes?

AI benefits platform Origin has secured US$30m in new venture capital funding, which it is referring to as an extended Series A+ round.

Led by Notion Capital, the new funding brings the amount of money the company has raised to over US$50m. 

Other investors, such as Acadian Ventures, have also participated in the round, and Origin says it has received “additional growth funding,” from HSBC Innovation Banking UK.

According to Origin, the new funding will help the company improve the platform’s ability to integrate into existing human capital management platforms – including offerings from Workday and PeopleSoft, which was developed by Oracle for global payroll, benefits, talent management and workforce scheduling.

The company says this will improve access to benefits information for employees, so that it is easily accessible where employees are already working. 

Andy Leaver, Operating Partner at Notion Capital, says: “Benefits are one of the last major enterprise functions still left behind by the digitisation wave of the last 25 years. AI now makes it possible to build a true system of record and intelligence for benefits.”

A global benefits solution

As a global benefits intelligence platform, Oracle can ingest and structure massive volumes of previously unstructured data through Cudio, its artificial benefits intelligence tool. 

This includes benefit policies, leave allowances, vendor contracts and commissions, which are combined into one centralised layer.

According to Origin, the platform is designed to help HR and benefits teams “cut costs, eliminate waste, gain visibility and strategically manage global benefits spend.”

“We created Origin because global benefits teams urgently need clarity, efficiency and control," said Chris Bruce, CEO and Co-founder of Origin. 

“Our AI-powered platform, Origin, turns vast, fragmented benefits data into a single source of actionable insights, enabling immediate cost savings, strategic decision-making and better employee outcomes. 

“Origin empowers HR leaders to transition from administrative complexity to strategic clarity, optimising one of their organisation's largest investments.”

Chris told Fortune that the idea for Origin came about from a conversation with fellow co-founder Pete Craghill in 2023, where they realised advances in AI now made it possible for companies to have a clear picture of what they spend on employee benefits globally – a problem they say they failed to solve 15 years earlier.

“It simply was not possible without AI,” Bruce said.

The impact of employee benefits on wellbeing

A robust benefits strategy can make a significant difference to employee wellbeing and tenure – providing employers with the opportunity to gain a competitive advantage in attracting high quality talent, as well as boosting productivity and encouraging a better workplace culture.

A study from the Economist and Nuveen found that nearly two-thirds of employees in the manufacturing industry would consider changing jobs for access to better benefits – which could make a significant difference for industries such as manufacturing, which are facing significant labour shortages. 

Having more access to benefits can also help overall employee wellbeing, the same study finding that two-thirds of junior workers and a quarter of C-suite executives say they lack sufficient time to manage their mental health effectively.