Business Overview

Dec 2020
Date Founded
Active
Operating Status
11
Employees

We believe that reconstructing Paid Time Off will craft healthier businesses.

Each year, employees use on average only 72% of their Paid Time Off, resulting in $272B in annual carry over liabilities for their companies (an average of $2,226 annual liability per employee).

Instead of being forced to pay out unpredictable accrued vacation balances whenever an employee leaves the company, Sorbet provides organizations with the agency to control their finances. Sorbet technology offers insightful accrual predictions, loan refinance flexibility, funding, and infrastructure to reduce PTO liabilities, save costs, predict cash flows, and maximize tax benefits, all while offering employees a cash out benefit.

How it works:
-Once approved by the employer, Sorbet allows employees to choose the portion of accrued balance they would like to cash out immediately (similar to an “invoice factoring” solution).
-In-turn, Sorbet enables employers to decide when they want to pay us back while saving financing costs in the process.
-Employees’ cashed out time is loaded onto a prepaid card which can be used anywhere Visa is accepted.
-Employees can invest in themselves with access to highly curated wellness, travel and entertainment experiences, fully localized to support small, local and minority-owned businesses, relevant even in the state of a pandemic.

With Sorbet, employers can provide their employees with an incredible financial and wellness benefit while regaining full financial control and flexibility to minimize, restructure and refinance accrued vacation liabilities for immediate, quantifiable impact on the balance sheet and bottom line.

Headquartered in Tel Aviv with offices in NYC & Kiev, we’re hiring a global team of relentless entrepreneurs to help disrupt a $272B opportunity. Join us! see less

Founders

Sorbet
Eliaz Shapira
CPO
Sorbet
Veetahl Eilat-Raichel
CEO
Sorbet
Rami Kasterstein

Board Members and Advisors

Sorbet
Rami Kasterstein
Board Member
Sorbet
Avi Zeevi
Board Member

Funding Rounds

$6 M

Total Funding

1

Funding Rounds

New wpDataTable

Date Announced

Funding Round

Amount Raised

Investors

AI Technology Stack

AI Description

An AI generated productivity booster. We use personalized, curated Micro-Vacations to encourage, legitimize and incentivize employee Time off. Optimize employee wellness and performance and crush year end PTO liabilities with Sorbet.

AI Cloud Provider
Amazon Web Services

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Startup Snapshot

Operating Status
Active
Total Funding
$6 Million
Founded
December 2020
Funding Stage
Seed
Time Since Last Funding Round
2 months

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Fundraising Contact

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