Juno Raises $8.5 Million to Expand Life-Changing Financial Protection to More Working Parents
2024年7月19日 - 3:00AM
ビジネスワイヤ(英語)
The first company in the U.S. to provide child
disability insurance closes Series A funding to expand reach of new
core employee benefit
Juno, the first company in the U.S. to provide child disability
insurance, announced today it has closed an $8.5m Series A led by
Spero Ventures with participation from Floating Point, Newark
Ventures, and WVV Capital, bringing its total capital raised to
$12.5 million.
The new funding will be used to expand the company’s client base
and broker network as well as increase product flexibility to meet
the budget of any company looking to offer the benefit.
“For more than half a century, employers in the U.S. have
offered disability insurance as a standard employee benefit, but
until now, employees have struggled in silence if their child
becomes severely disabled. We are so excited to partner with
leading employers and brokers to finally fill this gap and provide
life-changing, long-term financial support for working parents,”
said Jordan Epstein, CEO and co-founder of Juno. “Child disability
insurance protects parents from their largest uncovered financial
risk, and this latest investment will enable more companies to
offer this truly meaningful benefit for their employees.”
“Juno is the pioneer of child disability insurance in the U.S.,
and we are proud to help establish this new core benefit category,”
said Stephen Wemple from Spero Ventures. “We have always focused on
supporting mission-driven companies like Juno, whose products
improve the bottom line for businesses while making an impact for
ordinary people and society at large. Child disability insurance
fills a gap in our country’s safety nets, offers financial
protection for all working parents, and helps employers engage,
attract, and retain talent. Most importantly, it can be truly
life-changing for families when a child becomes severely ill or
disabled.”
Through Juno, parents can receive up to $1 million ($500,000 per
qualifying child) in tax-free cash, paid in monthly installments
for up to 10 years. The benefit covers children from birth to age
26 and can be used in any way a family chooses, including
supplementing lost income, hiring specialized caregivers at home,
or addressing medical costs not covered by health insurance. Juno
also provides one-on-one support services to help families navigate
the complexities of their child’s condition, access other available
resources, and build a successful plan for the future.
About Juno
Juno is the leader in child disability insurance, a core
employee benefit that provides long-term financial support plus
personalized guidance if a child from birth to age 26 becomes
severely ill, injured, or disabled. Juno was founded by a team of
insurance, benefits, and technology leaders on a mission to provide
the financial safety net that they, as parents, wished they had. As
a public benefit corporation, Juno donates 2% of every premium to
organizations that research childhood disabilities and rare
diseases or provide direct support to families.
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