Juno, the pioneering US company offering child disability insurance, has successfully closed an $8.5 million Series A funding round. Led by Spero Ventures, with participation from Floating Point, Newark Ventures, and WVV Capital, this latest investment brings Juno’s total capital raised to $12.5 million.
The fresh capital will enable Juno to expand its client base and broker network, and increase product flexibility to accommodate the budgets of various companies interested in offering this innovative employee benefit.
Through Juno, parents can receive up to $1 million ($500,000 per qualifying child) in tax-free cash, distributed in monthly installments over 10 years. This benefit covers children from birth to age 26 and can be used for any family needs, such as supplementing lost income, hiring specialized caregivers, or covering medical costs not included in health insurance. Juno also offers one-on-one support services to help families navigate their child’s condition, access additional resources, and create a successful future plan.
“For more than half a century, employers in the U.S. have offered disability insurance as a standard employee benefit, but until now, employees have struggled in silence if their child becomes severely disabled. We are so excited to partner with leading employers and brokers to finally fill this gap and provide life-changing, long-term financial support for working parents,” said Jordan Epstein, CEO and co-founder of Juno. “Child disability insurance protects parents from their largest uncovered financial risk, and this latest investment will enable more companies to offer this truly meaningful benefit for their employees.”
“Juno is the pioneer of child disability insurance in the U.S., and we are proud to help establish this new core benefit category,” said Stephen Wemple from Spero Ventures.
He added: “We have always focused on supporting mission-driven companies like Juno, whose products improve the bottom line for businesses while making an impact for ordinary people and society at large. Child disability insurance fills a gap in our country’s safety nets, offers financial protection for all working parents, and helps employers engage, attract, and retain talent. Most importantly, it can be truly life-changing for families when a child becomes severely ill or disabled.”
Source: Businesswire
