Funding Washington DC

DC Startup Aspire Raises $400,000 Seed Round

Aspire, a DC startup that’s revolutionizing the way companies give employee perks has just closed a $400,000 seed round.

For the past two decades progressive companies have given benefits outside of traditional health benefits as “perks”. They could come in the form of gym memberships, dining gift certificates, and wireless phone company discounts. While these perks may have their value, the work landscape has changed significantly.

“The way it’s done now is so underwhelming. It’s a lame way of approaching perks,” Aspire co-founder and CEO Neil Shah told InTheCapital.com. “It was a very, very big hole in the market.”

Aspire has taken employee perks online in a way that makes them rasier for companies to handle and at the same time easier for employees to take advantage of. Employers sign up with Aspire which takes dollar amounts set out for employees and allows them to use those dollars for anything in their online marketplace.

Over 60 vendors participate in the Aspire program. They offer anything from gym memberships, to wine delivery, even yoga classes and on demand dry cleaning and grocery delivery.

Aspire graduated from the Acceleprise Accelerator in the Washington DC area. Acceleprise caters to enterprise facing Startups that are hoping to make headway with the biggest enterprise customer in the world, the federal government.

DC based firms Acceleprise Ventures and K Street Capital led the round with participation from several local angels.

Acceleprise now has a 12 month runway to continue building out the product and onboarding customers. They are already generating $50,000 per month.

You can find out more about Aspire here.