Portfolio Company Spotlight: Cocoon

We invested in Cocoon, employee leave software for modern employers, with conviction that the future of work includes solutions that create happier, healthier, and more productive places to work while driving competitive advantages and reduced costs for employers. Employee leave benefits are often a complicated morass that neither the employee or HR know how to navigate. Cocoon uses technology to bring clarity and simplicity to both sides, simplifying the complexities of compliance, claims, and payroll for a seamless, more empathetic employee leave experience.

The political and regulatory environment surrounding paid leave has been making headlines. The Family and Medical Leave Act (FMLA) landmark legislation offering unpaid leave of up to 12 weeks turns 30 this year. However, many Americans are still without access to paid leave. As of January 2023, only 13 states including Washington DC have instated paid leave laws. Employers know paid leave benefits have significant economic value — boosting productivity, reducing turnover and attracting talent. Paid leave, including parental and family leave, also has significant benefits for child development, maternal health and economic well-being. In the absence of a Federal leave policy, employers are increasingly demanding solutions to assist them in implementing and managing leave programs.

Below are three resources published by Cocoon to help you manage and think about your leave policies. Cocoon is trusted by large and small employers, including Carta, Notion, and Modern Health, works across all 50 states, and is designed for all types of employee leave including parental, medical, or caregiver. Cocoon accounts for company, government and insurance benefits and simplifies all facets of the leave from compliance to claims management to payroll calculations.

2023 Paid Leave Benchmarks Report

How does your company compare with paid leave benefits? Cocoon aggregated data from 224 venture-backed tech companies’ parental, medical, and caregiver leave policies to provide valuable data as you build policies in your organization. They even have free “policy generators” that draft policy language for you! Many employers wait to think about these policies until they have an employee who needs to take leave, but proactively planning for the future allows growing companies to attract and retain talent going into the next phase of scale. Cocoon can help craft a competitive leave plan that works for employers and employees.

Pay Trackers Helping Those on Leave

For employees on leave, figuring out when you are getting paid, how much, and from which sources can be complicated. Cocoon’s Pay Trackers break down all the payments an employee can expect on leave. For People and Payroll teams, the new Pay Insights feature surfaces detailed, downloadable pay data at the click of a button so they dive deeper when employees need extra support.

Customer Spotlight: How becoming parents changed the HoneyBook team’s approach to leave

For working parents, taking leave to care for a new child or an aging parent is hardly a break. Partnering with Cocoon meant that Allie and Sara, senior leaders at HoneyBook, could truly commit to all their new duties as moms, instead of “chasing payments all day.”