"Parento addresses this critical gap by providing the first-ever insurance product specifically designed for paid parental leave, offering companies a three-in-one solution that combines customized insurance coverage, streamlined leave management, and personalized parent coaching. The platform serves both birthing and non-birthing parents, achieving a remarkable 95% return-to-work rate compared to the industry standard of 60%. With its comprehensive approach, Parento helps employers control expenses while supporting employees through one of life's most significant transitions, targeting the $43B total addressable market for parental leave solutions."
"AlleyWatch sat down with Parento CEO and Founder Dirk Doebler to learn more about the business, its future plans, recent funding round, and much, much more... Who were your investors and how much did you raise? Parento raised $5.9M in a Seed II round led by ResilienceVC, with participation from Kapor Capital, Bread & Butter Ventures, Operator Stack, Coyote Ventures, ffVC, Human Ventures, Springbank, Precursor, Cross Impact, K Street, Evidenced, and Avesta. Parento's total funding to date is $10.3M."
Only 27% of private sector U.S. workers have access to paid family leave, leaving many new parents to choose between income and time with newborns. State programs and traditional short-term disability insurance exclude many families or primarily benefit birthing parents. Parento offers a three-in-one paid parental leave solution that pairs customized insurance with streamlined leave management and personalized parent coaching. The platform serves both birthing and non-birthing parents and achieves a 95% return-to-work rate versus a 60% industry standard. Parento helps employers manage expenses and HR burdens while targeting a $43B total addressable market. The company has raised $5.9M in Seed II funding, bringing total funding to $10.3M.
Read at Alleywatch
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