Insurtech Juno, the US company to offer child disability insurance, has sequred an $8.5 mn Series A funding round led by Spero Ventures, with contributions from Floating Point, Newark Ventures, and WVV Capital, this brings Juno’s total capital raised to $12.5 mn.
This funding will help Juno grow its client base, expand its broker network, and increase product flexibility to suit various company budgets interested in this innovative employee benefit.
Juno provides parents up to $1 mn ($500,000 per child) in tax-free cash, distributed monthly over 10 years.
This benefit covers children from birth to age 26 and can be used for any family needs, including supplementing lost income, hiring specialized caregivers, or covering medical costs not included in health insurance.
Juno also offers personalized support services to help families manage their child’s condition, access resources, and plan for the future.
For over 50 years, US employers have offered disability insurance as a standard benefit, but employees have struggled silently when their child becomes severely disabled
Jordan Epstein, CEO and co-founder of Juno
“Child disability insurance protects parents from significant financial risks, and this investment will allow more companies to offer this crucial benefit”, said Jordan Epstein.
“Juno is the pioneer of child disability insurance in the US, and we are proud to help establish this new core benefit category,” said Stephen Wemple from Spero Ventures.
He added, “We support mission-driven companies like Juno, whose products improve business outcomes and impact society. Child disability insurance offers financial protection for working parents and helps employers attract and retain talent. Most importantly, it can be life-changing for families when a child becomes severely ill or disabled.”
