
Thomsons Online Benefits
Thomsons Online Benefits is a global benefits management and employee engagement software company..
Date | Investors | Amount | Round |
---|---|---|---|
investor | €0.0 | round | |
investor | €0.0 | round | |
N/A | Acquisition | ||
Total Funding | 000k |
GBP | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 |
---|---|---|---|---|---|---|---|
Revenues | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
% growth | 17 % | 19 % | 9 % | 10 % | 2 % | - | - |
EBITDA | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
% EBITDA margin | 2 % | 1 % | 32 % | 1 % | 1 % | - | - |
Profit | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
% profit margin | 1 % | - | 32 % | - | - | 442 % | - |
EV | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
EV / revenue | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
EV / EBITDA | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x | 00.0x |
R&D budget | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 | 0000 |
Source: Company filings or news article
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Thomsons Online Benefits was established in 2000 by co-founders Michael Whitfield and Chris Bruce, who shared a vision for delivering workplace benefits online. At the time of the company's founding, Whitfield was 40 and Bruce was a 25-year-old benefits consultant. Bruce had a background in the corporate advisory business, having previously worked for a firm run by his father. The company's core offering is Darwin™, a global SaaS platform for employee benefits management and engagement. This technology is designed to help HR and reward professionals at client companies administer benefits programs, manage costs, and reduce risks associated with data handling.
The business operates on a SaaS model, providing its Darwin™ software to corporate clients. The platform serves multinational employers by offering a globally consistent yet locally adaptable employee benefits system. Darwin™ is designed to integrate with a client's existing human capital management (HCM) systems, automating data transfer between HR, payroll, and third-party provider systems to streamline administration. The software provides features for benefit enrollment, total reward statements, and reimbursement, all accessible to employees through a single interface. For employers, it offers analytics for insights into benefits spending and uptake, a content manager for site customization, and tools for targeted employee communications. Before its acquisition, the company had secured investments from firms including Abry Partners and VSS Capital Partners.
A significant milestone in the company's history was its acquisition by Mercer, a global consulting firm, in a deal announced in December 2016. This acquisition was intended to combine Thomsons' technology with Mercer's consulting and broking services to enhance the design, communication, and administration of benefits. Following the acquisition, Thomsons Online Benefits began operating as a wholly-owned subsidiary of Mercer. In November 2020, the company officially changed its name to Darwin Technologies Ltd. By the time of the acquisition, the Darwin™ platform was used by over a million people in more than 80 countries and 24 languages.
Keywords: benefits administration, employee engagement, SaaS, global benefits, HR technology, Darwin platform, benefits management, total reward, corporate wellness, Mercer