Origin commenced as a digital insurance provider, but pivoted its business model to provide an employee financial wellness platform that offers services such as personalized financial advice on retirement plans, equity grants, real estate, and taxes based on information shared by the user, one-on-one access to certified financial advisors and tax professionals, ongoing support and education, and an interactive dashboard to view one’s financial position and track achievement of financial milestones. The company’s total rewards center provides guidance to employees on their total compensation, benefits, and more.
Origin offers its services to companies on a per eligible employee basis (priced at USD 6 per month per employee). As of August 2021, Origin tripled its employee headcount to 70 year-over-year (YoY). Origin increased its revenue by 25x and user growth by 6x over the preceding 12 months, as of the same period. The company also reported to have a client base in the “low hundreds” with over “hundreds of thousands” of employees using the platform. Key clients include companies such as Modern Health, Docusign, reddit, and Chime.
In October 2023, Origin acquired MyAdvocate , a platform for estate planning, for an undisclosed sum. Through this acquisition, Origin planned to leverage MyAdvocate’s estate planning tools and expertise to expand its product offerings. In June 2023, Origin acquired Finny , a financial wellness platform, for an undisclosed sum. Through this acquisition, Origin planned to integrate Finny’s financial education, content, curriculum, and debt management tools into its financial wellness platform and provide users with improved financial content and tools.
Funding and financials
In August 2021, the company raised USD 56 million in a Series B funding at a post-money valuation of USD 400 million, quadrupling its value from its funding in June 2020. The round was co-led by 01A, Lachy Groom, and General Catalyst. The company expected to use the funding for product development, scaling its business, and grow its headcount to 170 over the following twelve months.
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