Cocoon

Cocoon assists US businesses in managing the impact of employee leave on compliance and payroll. For the employer, it handles the compliance requirements and payroll calculations involved in taking leave, and allows employees to apply for leave in an end-to-end automated process. In addition, it also generates data and insights on how employees utilize their leave benefits.  

Using the platform, employees can plan a compliant leave request, view any state/insurance benefits available for it and track relevant payments. Cocoon currently supports all FMLA-covered leave types: parental, medical, caregiver, and military family leaves. 

Cocoon charges an upfront annual per employee per year fee based on company size plus a one-time implementation fee, giving employers transparency and predictability into their annual costs

Key customers and partnerships

Its customers include large organizations such as Sequoia, Notion, and Carta and it revealed plans to penetrate organizations of all sizes.

Cocoon has integrations with Workday, ADP, Gusto, BambooHR, Zenefits, Namely, UKG, HiBob, Paylocity, and Justworks to automatically input census information into Cocoon. 

Funding and financials

In September 2021, Cocoon raised USD 20 million in a Series A funding round led by Index Ventures. Funds were earmarked for product development and talent acquisition across engineering, sales, and customer success departments. As part of the investment, Mark Goldberg (Partner, Index Ventures) will join Cocoon’s board of directors.