Cloud8, a Bristol-based employee benefits platform, has been acquired by Benefex, a Southampton company. Benefex has purchased the entire product set of Cloud8, which featured on Business Cloud’s inaugural TalentTech 50 ranking this year. The Cloud8 team will join Benefex as part of the acquisition. With a focus on simplicity for its users, Cloud8’s software and APIs are expanding employee benefits to small- and medium-sized enterprises and improving work outcomes for tens of thousands of employees in the UK. “We see huge growth opportunities across the entire benefits market. Cloud8 has an enviable network of resellers and partners,” said Matt Macri-Waller, founder and CEO of Benefex. “We want to continue to support them to grow their businesses. As a result, we will be accelerating our investment, focus, and commitment to these partners and those organizations in this portion of the market.”
Dipa Mistry Kandola, CEO at Cloud8 said, “Over the last year, we have been seeking a new long-term investment partner to take our platform to the next level in its evolutionary journey. We’re delighted that this investment comes from Benefex, a highly respected business that has a strong presence in the employee benefits technology marketplace.” This acquisition will help Benefex to expand its presence in the employee benefits market.