The people
What they build
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Working at Benecaid
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On the TechTO stage
David Katz of Benecaid presents Innovation in the Benefits Market
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David Katz of Benecaid presents InsureTech, Inside Out
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About
Founded in 2000, Benecaid sold health benefits to Canadian small and medium-sized businesses through independent insurance advisors. Under CEO Peter Berczi, who joined in 2014, it built Honeybee — a digital platform giving employees a budget and letting them personalize their own plans. David Katz, the executive who created Honeybee, took the story to the TechTO stage twice in 2017. APRIL Group acquired a 93% stake in April 2018, and Green Shield Canada acquired the company in November 2020. Benecaid and Honeybee now operate as brands within GreenShield Holdings; Katz left for Radical Ventures in 2021.
Backers
Not a venture-backed company — Benecaid was majority-acquired by APRIL Group in 2018 (93%, management retained 7%) and acquired by Green Shield Canada in November 2020.
Quick answers
What does Benecaid do?
It provides health benefits to Canadian small and medium-sized businesses, sold through independent insurance advisors. Founded in Toronto in 2000, it is now part of GreenShield Holdings.
What was Honeybee?
Benecaid's digital benefits platform, built by executive David Katz. Employers fund a health spending account and an allowance account, and employees choose what to spend it on — from traditional health and dental to transit, fitness or pet benefits. It is now a GreenShield brand.
What happened to Benecaid?
APRIL Group, a French insurance services group, acquired a 93% stake in April 2018, with management keeping 7%. Green Shield Canada then acquired Benecaid in November 2020. CEO Peter Berczi and EVP David Katz both joined Green Shield's leadership team; the Benecaid brand continues under GreenShield Holdings.