Press Release: Vimly Benefit Solutions Announces Strategic Investment from Rubicon Technology Partners
Investment positions Vimly to accelerate growth and product innovation in the benefits administration space
Seattle, WA and Boulder, CO, February 13, 2024 – Vimly Benefit Solutions (“Vimly”), a leader in the benefits administration space, has secured a strategic majority investment from Rubicon Technology Partners (“Rubicon”), a private equity firm based in Boulder, Colo. that is focused exclusively on investing in and growing software companies. Building on Vimly’s momentum as a category leader, the investment will accelerate growth through go-to-market expansion, product innovation, and the pursuit of acquisition opportunities.
Vimly was built on the idea that employee benefits work better when they work together as one solution. Vimly began in 1993 by serving small to mid-sized businesses through Association Health Plans and Multi-employer trusts. Today, Vimly has grown into a world-class benefits technology company, whose platform powers the entire benefits administration ecosystem. Vimly’s solutions simplify and automate the entire process, from benefits acquisition to ongoing administration. The company is uniquely positioned in the market to deliver solutions that support the needs of all stakeholders, including carriers and their distribution partners, consultants, brokers, employers, and employees.
“I am thrilled to have found the right partner in Rubicon to take Vimly to the next level in our growth and technology strategy,” said Shannon Jurdana, CEO at Vimly. “We stand at a significant crossroads today to celebrate our past and boldly step into the next phase of innovation and growth for Vimly. As we continue to enhance our platform, SIMON®, and expand our offerings, our focus remains steadfast on delivering unparalleled value to our clients and business partners. I am thrilled that we have found a like-minded partner in Rubicon who sees the incredible value Vimly delivers today, and the immense opportunity that lies ahead.”
“Vimly has invested heavily in building an innovative, market-leading, cloud-based platform to help with the most complex benefits administration needs,” said Alex Kleiner, Partner at Rubicon. “The company’s highly differentiated solutions, world-class customer service, and ability to bring full quote-to-card capabilities position Vimly as the industry leader for the next era of benefits administration software. We are excited to partner with the Vimly team.”
Ziegler, a specialty investment bank, served as exclusive financial advisor to Vimly on the strategic investment from Rubicon.
About Vimly Benefit Solutions
Vimly Benefit Solutions provides an HRIS SaaS platform that delivers a digital quote-to-card experience for carriers, third-party administrators, general agents, brokers, employers, and employees. Founded in 1993, Vimly is solving some of the most difficult challenges in the industry: complex enrollment, consolidated billing, and platform integrations.
About Rubicon Technology Partners
Rubicon Technology Partners invests in enterprise software companies with proven products and talented management teams to help develop market leadership positions. Rubicon enables companies to adapt to the changing requirements of their businesses as they grow and scale using a set of proprietary processes, best practices, and a portfolio-wide engagement model. Rubicon has over $3.8 billion in assets under management and is headquartered in Boulder, CO with additional offices in Palo Alto, CA and New Haven, CT. Rubicon's experience, collaborative approach, capital, and culture make it a compelling partner for software companies seeking to accelerate the growth, profitability and strategic value of their platform. For more information, please visit www.rubicontp.com.
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