Plannly, the modern workplace well-being platform, recently announced a $1.2M angel round of funding after concluding a highly successful Build In Tulsa Techstars Accelerator Program. The Scottsdale-based company also announced the general availability of its AI-powered platform and curated marketplace of pre-vetted vendors, lifestyle spending accounts and automated claims reimbursements, that allow organizations to bring employee-focused benefits tailored to individual needs. Plannly’s platform helps employers increase participation, reduce spending, track utilization and return unused funds to optimize budgets.
Historically, many organizations have provided one-size-fits-all health and wellness benefits to decrease their healthcare costs. Not surprisingly, the lack of attention to individual needs led to employee disengagement, increased absenteeism, burnout and turnover, all of which lead to decreased productivity and lower profitability.
In a post-pandemic work environment, it is critical that companies provide flexible, inclusive benefits that reach a distributed workforce. To address the need, Plannly offers a solution that adjusts with employee life changes and recommends personalized benefits that cover all dimensions of health such as intellectual, social, emotional, physical, mental, occupational, spiritual and financial.
The genesis of Plannly came when the founding team, husband and wife Earl and Alisha Harris, were confronted with their own personal issues during the shutdown of the pandemic. Both suffered from depression for different reasons and the benefits offered by their employer (smoke cessation, weight management and biometric screening) failed to meet their individual needs. As a result, their personal challenges affected their performance and led to decreased productivity and ultimately job loss. From that moment, the couple made it their life mission to change the status quo. In doing so, they have revolutionized employee well-being benefits by collaborating with employers and benefit providers to create modern programs for healthier, happier and engaged employees.
“Plannly was founded as employees and business leaders were wrapping their heads around the COVID-19 pandemic,” says Alisha Harris, CEO and co-founder of Plannly. “It was obvious that the way organizations supported employees needed to change during and after the pandemic. People were confused, lost, depressed, and all of this led to poor job performance. We sought to develop a new, modern approach to benefits management for organizations of all sizes that is customized to the individual and puts the power of selection in their hands. Most importantly, we are delivering benefits that will make a real impact in peoples’ lives.”
How it Works:
Plannly gives employees the freedom to choose personalized wellness options that are designed for their unique needs. To begin the process, dynamic assessments are conducted to unlock the LSA funds, and then Plannly leverages adaptive machine learning to evaluate the results, catch life changes and to recommend benefits.
Effective: Personalized benefits achieve a participation rate of over 50%, double the industry average.
Efficient: Personalized benefits reduce an organization’s health and wellness spending by nearly 30% when implementing the Plannly “Use it or Lose it” allowances.
Equitable: Whether onsite, remote, hybrid or global — personalized benefits provide an advantage in talent acquisition, strengthen an inclusive culture, and foster workforce well-being.
Efficacy: Personalized benefits can help inflation-proof a total rewards strategy, boost employees’ compensation — enriching an organization’s talent acquisition strategy.
“Now more than ever, employers are investing in the health and wellness of employees, as they understand the impact it has on performance. Providing a personalized approach to employee benefits is also a competitive advantage when it comes to recruitment and retention. Plannly is bringing a fresh set of eyes to the employee benefits landscape and that is what attracted us to join them on their journey with our initial investment,” said Erika Lucas, general partner at VEST Her Ventures. “Coming off of their stellar performance at Build In Tulsa’s Techstars Accelerator program this summer, it was clear to us that Plannly has the passion for employee well-being, and the right vision and marketplace to bring truly personalized benefits to global organizations. We’re excited to be involved in this important aspect of our social and economic world.”