Juno, the trailblazing company in the U.S. child disability insurance market, has successfully completed an $8.5 million Series A funding round. Led by Spero Ventures and joined by Floating Point, Newark Ventures, and WVV Capital, this funding round increases Juno’s total capital to $12.5 million.
Juno is breaking new ground in the U.S. by addressing a significant gap in employer-provided benefits through child disability insurance. The company’s insurance provides financial support for parents whose children suffer severe disabilities, a need that traditional employee benefits often overlook.
With the new funds, Juno aims to broaden its customer base and broker network, while enhancing product adaptability to fit the financial constraints of various employers.
Juno’s insurance policy offers up to $1 million in tax-free cash, paid out monthly over ten years, covering children from birth up to age 26. This benefit can supplement lost income, cover costs of specialized caregivers, or address medical expenses not covered by standard health insurance. Furthermore, Juno provides personalized support services to help families manage their child’s condition.
Jordan Epstein, CEO and co-founder of Juno, expressed enthusiasm about the funding news, saying, “For over 50 years, U.S. employers have included disability insurance as a typical benefit, yet parents of severely disabled children have often struggled without adequate support. We are thrilled to collaborate with leading employers and brokers to bridge this gap, offering long-term financial security to working parents. Child disability insurance mitigates parents’ greatest uncovered financial risk, and this investment will allow more companies to provide this vital benefit to their employees.”
With this latest funding, Juno reaffirms its commitment to reshaping employee benefits and providing crucial support for families nationwide.
Click here to read the original article by Fintech Global.
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