Flash raises $29M Series D

Brazilian employee benefits platform Flash announced the successful closure of a $29 million Series D funding round led by Battery Ventures and Kevin Efrusy. Existing investors Endeavor Catalyst also participated in the round, which came more than four years after Flash's previous $100 million Series C funding. Flash's platform integrates employee benefits, human resources, and corporate expense management services.

With the new capital, the company intends to develop innovative products, enhance its AI capabilities, expand its sales team, and bolster its financial structure. Flash also aims to resume acquisitions, following its prior investments in workforce management platform FolhaCerta in 2023 and expense management platform ExpenseOn. The company currently serves around 60,000 companies and more than 2 million workers, ranking as the fifth-largest employee benefits provider in Brazil.

Flash has been cash flow positive for nearly a year and is now the fifth-largest player in the Brazilian employee benefits market.