# Benefitfocus

> Cloud benefits administration software for employers, health plans, and brokers — Charleston HQ.

## Why it is interesting

Charleston's clearest benefits-tech outcome before Blackbaud's scale: Benefitfocus went public in 2013, built a Daniel Island campus, and sold to Voya Financial for ~$570M cash (Jan 2023, $10.50/share) — proof the Lowcountry can host scaled HR/benefits SaaS even after the BNFT ticker disappeared.

## Profile

- **Latest funding:** Not publicly disclosed
- **Latest known valuation:** Not publicly disclosed
- **Total disclosed equity funding:** Not publicly disclosed
- **Stage:** other
- **Status:** acquired
- **Industries:** healthtech, enterprise-saas
- **Coverage:** full
- **Last updated:** 2026-07-29

## Key facts

- Jan 2023: acquired by Voya Financial for $10.50/share (~$570M deal value per Voya)
- Charleston / Daniel Island HQ campus — ~1,100 employees at close per press
- Former NASDAQ: BNFT (IPO 2013); benefits admin for employers and health plans
- Operates as Benefitfocus, a Voya Financial business post-acquisition

## Funding history

- Acquisition · ~$570M (deal value per Voya) · January 2023
  Source: https://www.voya.com/news/2023/01/voya-financial-completes-acquisition-benefitfocus
- IPO · Public (NASDAQ: BNFT) · 2013
  Source: https://www.benefitfocus.com

## Related articles

- https://venturecapitaltracker.com/charleston-sc-startups-and-vc-firms-2026

**By:** [Venture Capital Tracker](https://venturecapitaltracker.com/editorial-policy)
**Last updated:** July 29, 2026

**Editorial note:** AI tools assisted with research, structure, or drafting. Venture Capital Tracker retains human editorial responsibility for factual accuracy, relevance, and source quality before publication.

---
Source: https://venturecapitaltracker.com/startup/benefitfocus