ORIX Ventures Extends Debt Capital to PlanSource
06 May 2015 - 2:30AM
Business Wire
ORIX Ventures announced today that it has extended debt capital
to PlanSource, which provides the leading cloud-based health
exchange and benefits engagement platform. The debt facilities
financed PlanSource’s acquisition of the business administration
software platform, ClearBenefits, from BENU, Inc.
“Scalable, cloud-based solutions for managing key employer
functions are becoming a mainstay in the modern enterprise,” said
Todd McDonald, Director of ORIX Ventures. “PlanSource’s benefit
administration platform addresses this shift through impressive
functionality and ease of use for full management of the benefits
life cycle. This capital will support PlanSource’s continued high
growth, and we are excited to have the opportunity to support
management for that purpose.”
PlanSource, headquartered in Orlando, Fla., has a leading Net
Promoter Score—a number which gauges how likely customers are to
promote a brand—of +67, compared to the Software as a Service
(SaaS) industry average of +26. With a customer revenue retention
rate of 99.8 percent, PlanSource is focused on enabling the success
of its new ClearBenefits clients. All customers who are using the
current ClearBenefits platform will have access to PlanSource’s
state-of-the-art technology for benefits shopping, enrollment,
billing and administration.
“We have had an excellent relationship with Todd McDonald and
the team at ORIX Ventures,” said Dayne Williams, CEO of PlanSource.
“As we entered the next phase of our expansion plan, it was natural
for us to take advantage of ORIX’s flexibility and long-term focus
to access additional growth capital.”
ABOUT ORIX VENTURES
ORIX Ventures specializes in designing highly customized
financing solutions with investments starting at around $5 million
and growing to $50 million. The team has committed over $1 billion
to more than 100 companies. ORIX Ventures is a business unit of
ORIX USA, a Dallas-based financial services firm known for
providing innovative capital solutions that clients need to propel
their business to the next level. With more than 1,400 employees
spanning seven primary offices across the U.S. and Brazil, ORIX USA
and its family of companies hold $7 billion of assets and manage an
additional $30 billion, approximately. Our parent company, ORIX
Corporation, is a Tokyo-based, publicly owned international
financial services company with operations in 36 countries and
regions worldwide. ORIX Corporation is listed on the Tokyo (8591)
and New York Stock Exchanges (IX). For more information on ORIX
Ventures, visit www.orix.com.
ABOUT PLANSOURCE
PlanSource provides the industry’s most flexible and extensible
health exchange and benefits engagement platform in the cloud. More
than 8,000 employers and 3.5 million consumers use the PlanSource
Platform for benefits shopping, enrollment, billing and ongoing
administration. PlanSource partners with leading insurance
carriers, brokers and government entities to provide both exchange
and non-exchange solutions to companies of all sizes. PlanSource –
One Source. Many Benefits. Learn more at www.plansource.com.
for ORIX USAAmanda Gleason,
972-770-5083agleason@marketwave.biz
Orix (NYSE:IX)
Historical Stock Chart
From Apr 2024 to May 2024
Orix (NYSE:IX)
Historical Stock Chart
From May 2023 to May 2024