ECI-backed Ciphr has moved into the employee benefits business, with the acquisition of Avantus.
Avantus, founded in 2005, serves over 400 businesses globally through its intuitive, and fully customisable, employee benefits and rewards platform, FlexGenius, and its popular, white-labelled solution MyWorkPal.
This is the third acquisition since ECI’s investment for Ciphr, having bought Marshalls (now Ciphr eLearning) in April 2023 and Shape Payroll in June this year, and builds on Ciphr’s strategy to acquire UK businesses that complement its core HCM offering. It’s also its largest acquisition to date – significantly expanding Ciphr’s customer proposition to include employee benefits and wellbeing for the first time.
Avantus’ robust platform enables employers to deliver unlimited, personalised benefits choices to multi-generational workforces with diverse needs and differing expectations and priorities. It can help strengthen organisations’ Employee Value Proposition, support their talent retention, recruitment and recognition strategies, and streamline the admin process for HR. And it empowers employees to manage and see the value of their eligible core and voluntary benefits, such as salary sacrifice, medical and dental cover, retail discounts, pensions, and financial protection, in one central, easy-to-use, portal.
Philip Curtis, Avantus’ co-founder and CEO, and his 30-strong team will also join Ciphr Group from today.