Espresa

Espresa operates in the realm of employee benefits. The company’s flagship offering, the LSA Plus platform, is a pioneering solution in the HR technology space, aimed at redefining traditional workplace benefits. Central to its offering is the integration of traditional well-being benefits with Lifestyle Spending Accounts (LSA), which provide a unique blend of flexibility and personalization, allowing employees to choose benefits that meet their lifestyles and needs. This approach has proven highly effective, with Espresa achieving industry-high participation rates, with some clients seeing engagement as high as 94%.

The company emphasizes a mobile-first approach, ensuring that its benefits platform is accessible and user-friendly across all devices, particularly smartphones. By leveraging a mobile platform, Espresa enables employees to engage with their benefits anywhere and anytime, catering to both office-based and remote workers, as well as those in hybrid work settings.

Key customers and partnerships

Espresa's platform serves users across multiple sectors such as technology, consumer goods, healthcare, pharma, financial services, media, agriculture, law, manufacturing, and construction. As of November 2023, some of the company’s key customers include companies like Avalara, Cadence, Flex, Nielsen, Jazz Pharmaceuticals, Prudential, Unisys, and The Wonderful Company. 

In November 2021, Espresa partnered with global fitness leader, Les Mills, to provide multinational wellness programs for employees. The partnership involved integrating Les Mills' fitness content into Espresa's platform, to provide accessibility to employees wherever they are, regardless of their work situation. The wellness programming includes physical exercises, mindfulness, and meditation classes, as well as support in multiple languages, to accommodate multinational corporations. 

In April 2024, the company partnered with Headspace to incorporate Headspace's mental health app into Espresa's well-being marketplace, enabling employees to use their Lifestyle Spending Account resources to access mental health support.

Funding and financials

In October 2023, Espresa raised USD 23 million in a Series A round led by Clear Ventures. Several existing investors, such as Crosslink Capital, New Era Capital Partners, Moneta Venture Capital, Ridge Ventures, and Westwave Capital also participated in the round. Espresa planned to use the new funding to scale its operations, expand its sales and marketing efforts, develop its platform, and bolster its global support infrastructure.