ORIX Ventures Extends Debt Capital to PlanSource

ORIX Ventures announced today that it has extended debt capital to PlanSource, which provides the leading cloud-based health exchange and benefits engagement platform. The debt facilities financed PlanSource’s acquisition of the business administration software platform, ClearBenefits, from BENU, Inc.

“Scalable, cloud-based solutions for managing key employer functions are becoming a mainstay in the modern enterprise,” said Todd McDonald, Director of ORIX Ventures. “PlanSource’s benefit administration platform addresses this shift through impressive functionality and ease of use for full management of the benefits life cycle. This capital will support PlanSource’s continued high growth, and we are excited to have the opportunity to support management for that purpose.”

PlanSource, headquartered in Orlando, Fla., has a leading Net Promoter Score—a number which gauges how likely customers are to promote a brand—of +67, compared to the Software as a Service (SaaS) industry average of +26. With a customer revenue retention rate of 99.8 percent, PlanSource is focused on enabling the success of its new ClearBenefits clients. All customers who are using the current ClearBenefits platform will have access to PlanSource’s state-of-the-art technology for benefits shopping, enrollment, billing and administration.

“We have had an excellent relationship with Todd McDonald and the team at ORIX Ventures,” said Dayne Williams, CEO of PlanSource. “As we entered the next phase of our expansion plan, it was natural for us to take advantage of ORIX’s flexibility and long-term focus to access additional growth capital.”

ABOUT ORIX VENTURES

ORIX Ventures specializes in designing highly customized financing solutions with investments starting at around $5 million and growing to $50 million. The team has committed over $1 billion to more than 100 companies. ORIX Ventures is a business unit of ORIX USA, a Dallas-based financial services firm known for providing innovative capital solutions that clients need to propel their business to the next level. With more than 1,400 employees spanning seven primary offices across the U.S. and Brazil, ORIX USA and its family of companies hold $7 billion of assets and manage an additional $30 billion, approximately. Our parent company, ORIX Corporation, is a Tokyo-based, publicly owned international financial services company with operations in 36 countries and regions worldwide. ORIX Corporation is listed on the Tokyo (8591) and New York Stock Exchanges (IX). For more information on ORIX Ventures, visit www.orix.com.

ABOUT PLANSOURCE

PlanSource provides the industry’s most flexible and extensible health exchange and benefits engagement platform in the cloud. More than 8,000 employers and 3.5 million consumers use the PlanSource Platform for benefits shopping, enrollment, billing and ongoing administration. PlanSource partners with leading insurance carriers, brokers and government entities to provide both exchange and non-exchange solutions to companies of all sizes. PlanSource – One Source. Many Benefits. Learn more at www.plansource.com.

for ORIX USAAmanda Gleason, [e-mail]