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Overview
ParentoLeave.com provides paid parental leave insurance to employers, along with an integrated Leave Concierge service and HR tools. It collects non-identifiable employer data to generate a custom quote, then automatically enrolls all full-time employees in the program with no opt-in or medical questions. Employers pay premiums for the insurance, while Parento also offers payroll reconciliation for STD, PFL, and state benefits, benefit eligibility confirmation, and letters. Extra support includes leave management for HR, proactive parenting guidance, emotional support and parent coaching, and compliance with city, state, and federal requirements including FMLA. The company’s goal is to help employers support working parents by simplifying insurance enrollment, managing leave processes, and providing resources to navigate parental leave and return-to-work transitions.
About Parento
Industries
Consulting
Enterprise Software
Financial Services
Legal
Company Size
11-50
Company Stage
Seed
Total Funding
$10.4M
Headquarters
New York City, New York
Founded
2019
Simplify's Take
What believers are saying
- Raised $5.9M Seed II in 2024 from ResilienceVC, totaling $10.3M for expansion.
- Launched on Joshu Platform January 2024, enabling digital insurance distribution.
- Partnered with IUOE for paid maternity leave, targeting unionized workforces.
What critics are saying
- State PFL expansions in California, New York, Massachusetts shrink demand by 2026.
- ADP, Zenefits bundle leave features, forcing Parento price compression within 12 months.
- Federal FAMILY Act passage eliminates insurance role, converting to compliance vendor.
What makes Parento unique
- Parento offers pioneering insurance specifically for paid parental leave, unlike STD reliance.
- Three-in-one platform integrates insurance, Leave Concierge, and parent coaching seamlessly.
- Achieves 95% parent return-to-work rate through re-onboarding and holistic support.
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Funding
Total Funding
$10.4M
Meets
Industry Average
Funded Over
3 Rounds
Industry standards
Benefits
Paid Parental Leave
Family Planning Benefits
Fertility Treatment Support
Remote Work Options
Unlimited Paid Time Off
Flexible Work Hours
401(k) Retirement Plan
401(k) Company Match
Wellness Program
Mental Health Support
Gym Membership
Phone/Internet Stipend
Home Office Stipend
Conference Attendance Budget
Professional Development Budget
Stock Options
Company Equity
Growth & Insights and Company News
6 month growth
↑ 9%1 year growth
↑ 0%2 year growth
↓ -4%Parento has announced a $5.9 million second seed round, led by ResilienceVC, with contributions from Kapor Capital, Bread & Butter Ventures, Operator Stack, Coyote Ventures, ffVC, Human Ventures, Springbank, Precursor, Cross Impact, K Street, Evidenced and Avesta.
Parento, a provider of paid parental leave insurance, raised $5.9M in a Seed II round led by ResilienceVC, bringing its total funding to $10.3M. The company offers a three-in-one parental leave platform, combining insurance, leave management, and parent coaching. Parento aims to make parental leave accessible to small and mid-sized businesses, with 95% of parents returning to work post-leave. The funding will support product development, sales, and marketing expansion.
The IUOE is excited to announce, in partnership with Parento, the launch of its new Paid Maternity Leave benefit, designed to support you and your growing family.
MENLO PARK, Calif., Jan. 11, 2024 (GLOBE NEWSWIRE) - Joshu, the platform to build, distribute, and grow digital insurance products, is pleased to announce Parento, the only provider dedicated to expanding paid maternity and paternity leave, has successfully launched parental leave insurance on the Joshu Platform.
Parento is Hiring for 1 Jobs on Simplify!
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About Parento
Industries
Consulting
Enterprise Software
Financial Services
Legal
Company Size
11-50
Company Stage
Seed
Total Funding
$10.4M
Headquarters
New York City, New York
Founded
2019
Parento is Hiring for 1 Jobs on Simplify!
Find jobs on Simplify and start your career today