True Ventures leads funding to scale BEACON platform that gives benefits consultants their time back for strategic client work
SAN FRANCISCO, Oct. 15, 2025 /PRNewswire/ — Planyear, the AI-native platform transforming how benefits consultants work, announced it has raised $12 million in seed funding led by True Ventures. The round will accelerate development of Planyear’s BEACON platform, which automates administrative tasks that consume up to 70% of consultants’ time, freeing them to focus on strategic guidance and client relationships.
“AI has begun to transform the underlying economics of insurance brokerage,” said Craig Hasday, President, National Employee Benefits Practice at EPIC. “Using AI, firms will increase the efficiency and accuracy of their interaction with clients and insurance carriers with significantly improved control of data and awareness of pricing and coverage trends. This will reduce response times and increase profitability at the same time. The result will be an improved client experience with a greater focus on consulting and streamlined administration.”
Founded by benefits industry veterans who experienced firsthand the frustration of spending more time on spreadsheets than serving clients, Planyear emerged from a working brokerage with a deep understanding of the industry’s operational challenges. The BEACON platform combines AI automation with benefits expertise to handle client & employee questions, document processing, census standardization, renewal workflows, and RFP responses—tasks that traditionally require countless manual hours during peak seasons.
“Benefits consultants entered this industry to help people navigate healthcare decisions, not to wrestle with data entry,” said Tariq Hilaly, CEO of Planyear. “We’ve lived the late nights during renewal season, the frustration of manual processes, and the missed opportunities when you’re too buried in administration to focus on strategy. BEACON gives consultants their most valuable resource back: time.”
The benefits consulting industry manages over $1.4 trillion in annual healthcare spending, yet relies heavily on manual processes that haven’t evolved with modern technology expectations. Planyear’s AI-powered approach addresses critical bottlenecks including repetitive and high-volume employee support requests, plan spreading that can take hours per client, census data standardization across multiple formats, and the creation of custom, branded employee communications materials such as benefits microsites and decisioning support. Planyear is already working with 6 of the top 10 brokerage firms. Early customers report a 75% reduction in manual data entry, a 50% faster renewal process, and nearly double the client capacity within the first year of using the technology.
“The benefits industry is ripe for transformation, but it needs solutions built by people who understand the nuanced challenges consultants face daily,” said Puneet Agarwal, Partner at True Ventures. “Planyear’s team combines deep industry expertise with sophisticated AI capabilities to create genuine operational leverage. They’re not just automating tasks—they’re restoring the strategic advisory role that makes benefits consulting valuable.”
Benefits consultants spend far less time on strategic advisory work than on time-consuming data processing and administrative tasks. This imbalance has contributed to consultant burnout and limited the industry’s ability to deliver the personalized guidance that modern employers increasingly demand.
The funding will support platform expansion across key workflow areas as well as enhanced support for employers, general agents and carriers. Planyear will also expand its sales team and further develop its AI products to keep up with rapid technological changes and prepare for future capabilities.
About Planyear
Planyear is the AI-native platform that gives benefits consultants their time back. Born from a brokerage and built by benefits professionals, our BEACON platform automates the manual tasks that steal time from strategic work—from document processing to renewal workflows. We combine deep industry knowledge with AI innovation, empowering consultants to advise with confidence and deliver modern experiences that today’s employers and employees expect. Planyear transforms how benefits consultants work, strengthening relationships while driving growth. Learn more at www.planyear.ai.
SOURCE Planyear