Irvine’s Planyear Raises $12 Million Seed Round for Benefits Consulting

Planyear, an AI platform transforming how benefits consultants work, raised $12 million in seed funding led by True Ventures. The round will accelerate development of Planyear’s Beacon platform, which automates administrative tasks that consume up to 70% of consultants’ time, freeing them to focus on strategic guidance and client relationships.

The Irvine-based company was founded by benefits industry veterans who developed a platform that combines AI automation with benefits expertise to handle client and employee questions, document processing, census standardization, renewal workflows and RFP responses.

“Benefits consultants entered this industry to help people navigate healthcare decisions, not to wrestle with data entry,” said Tariq Hilaly, chief executive of Planyear, in a statement. “We’ve lived the late nights during renewal season, the frustration of manual processes and the missed opportunities when you’re too buried in administration to focus on strategy.”

Planyear is already working with six of the top 10 brokerage firms. The funding will support platform expansion across key workflow areas as well as enhanced support for employers, general agents and carriers. Planyear will also expand its sales team and further develop its AI products.

Information for this article was sourced from Planyear.