Clasp has been launched with a $1.5M funding round led by Base10 Partners, aiming to revolutionize the employee benefits sector by offering an API-driven infrastructure service. Co-founded by Amar Jasarbasic and Zach Zhang, Clasp seeks to address the complexities and integration gaps present in current benefits systems, dubbed the "Stripe for Health Benefits." It allows HR, payroll, and brokerage platforms to integrate a streamlined benefits administration system, enhancing accessibility and understanding for employers and employees alike. The platform stands out by simplifying integration with various insurance carriers and maintaining compliance with ACA standards, thereby supporting the trend towards specialized HR software.

In a significant move for the HR technology sector, Clasp, an innovative employee benefits platform, has successfully closed its seed funding round, securing $1.5 million. The funding round was led by Base10 Partners and received substantial support from notable industry figures such as Eric Stromberg and Willem Van Lancker.



Founded by Amar Jasarbasic and Zach Zhang, Clasp aims to transform the way employee benefits are managed and administered. The platform is designed to serve as the "Stripe for Health Benefits," providing a robust API that allows HR, payroll, and digital brokerage platforms to seamlessly integrate and manage benefits.

The necessity for such a platform has never been more apparent. Employers annually spend over a trillion dollars on employee benefits, yet over 85% of employees find their benefits packages confusing, leading to underutilization and lapses in coverage. Clasp's solution addresses these challenges by offering a unified infrastructure that simplifies the buying and management of employee benefits, eliminating the integration gaps and complexities associated with legacy systems.

Clasp's innovative approach has not gone unnoticed. The startup has garnered attention for its potential to significantly improve the employee benefits landscape. "Our mission is to make employee benefits more connected and accessible," said Amar Jasarbasic, Co-founder of Clasp. "With this funding, we are one step closer to building the infrastructure that will power the future of HR and benefits administration."



The funding will be used to further develop Clasp's platform, expanding its capabilities and ensuring it meets the needs of its growing customer base. Additionally, the company plans to increase its market presence and continue its mission to streamline benefits management for businesses of all sizes.

The HR tech landscape is undergoing a significant transformation, with the unbundling of traditional HR services into specialized, vertical solutions. Clasp is at the forefront of this shift, providing a much-needed service that integrates with the unique needs of various industries. For instance, restaurant owners can manage payroll through Toast, and construction companies can handle job costing reports through Procore. Clasp aims to be the benefits management counterpart in this new, unbundled HR ecosystem.

As the HR industry continues to evolve, Clasp's role in shaping the future of employee benefits administration is becoming increasingly important. With this new round of funding, Clasp is well-positioned to lead the charge in modernizing HR technology and making employee benefits more accessible and easier to manage for everyone involved.