Juno, a San Diego, CA-based company dedicated to provide child disability insurance, raised $8.5M in Series funding.
The round, which brought the total amount to $12.5M, was led by Spero Ventures with participation from Floating Point, Newark Ventures, and WVV Capital.
The company intends to use the funds to expand its client base and broker network as well as increase product flexibility.
Led by CEO Jordan Epstein, Juno specializes in child disability insurance, a core employee benefit that provides long-term financial support plus personalized guidance if a child from birth to age 26 becomes severely ill, injured, or disabled.
Through Juno, parents can receive up to $1 million ($500,000 per qualifying child) in tax-free cash, paid in monthly installments for up to 10 years. The benefit covers children from birth to age 26 and can be used in any way a family chooses, including supplementing lost income, hiring specialized caregivers at home, or addressing medical costs not covered by health insurance. Juno also provides one-on-one support services to help families navigate the complexities of their child’s condition, access other available resources, and build a successful plan for the future.
As a public benefit corporation, it donates 2% of every premium to organizations that research childhood disabilities and rare diseases or provide direct support to families.
FinSMEs
19/07/2024