Parento, a New York-based provider of paid parental leave insurance and employee support services, has raised $5.9 million in Seed II funding to expand its reach among small and mid-sized businesses.
Parento, a New York-based provider of paid parental leave insurance and employee support services, has raised $5.9 million in Seed II funding to expand its reach among small and mid-sized businesses. The round was led by ResilienceVC and included participation from Bread and Butter Ventures, Kapor Capital, Operator Stack, Coyote Ventures, and others.
The funding brings Parento’s total capital raised to $10.3 million. The company plans to use the new investment to grow its product development, sales, and marketing teams while introducing new insurance offerings.
Founded in 2019, Parento offers a three-in-one platform combining paid parental leave insurance, leave management tools, and one-on-one parent coaching. The model converts unpredictable leave expenses into manageable premiums, helping companies — even those with as few as ten employees — provide comprehensive paid leave benefits.
Source: PR Newswire
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