Benefitfocus Joins Elite List as a Top Ten HCM Cloud Vendor

Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based enterprise benefits management software announced today that it has been ranked as a leading human capital management (HCM) application provider as part of the annual Cloud Top 500 survey from analyst firm, Apps Run The World. Specifically, Benefitfocus was identified as the 10th largest provider of cloud-based HCM applications based on market share, revenue growth and market adoption by large enterprise clients.

“Amid rising regulatory and cost pressure the employee benefits landscape is undergoing a massive transformation and, as evidenced by the hundreds of large employers that rely on Benefitfocus, we’re honored to be included as a Top-10 HCM provider,” said Shawn Jenkins, Benefitfocus CEO.

As large employers transition benefits administration to the cloud they have increasingly turned to Benefitfocus to help them engage employees, manage healthcare costs and introduce new plan offerings ranging from critical illness policies to telemedicine applications. Whether as a stand-alone platform, or as part of a larger HRIS project through one of Benefitfocus’ existing partners, large employers rely on Benefitfocus to provide their human resource teams and employees with the information they need to make better decisions and lead better lives.

In the most recent survey, Benefitfocus ranked 41 on the overall list of Cloud Top 500 Applications Vendors and 10th among HCM providers. Benefitfocus was selected due to its increasing market share in the overall HCM market, revenue growth which exceeded 33 percent during the latest financial quarter, and growth in overall client base which now includes 703 large employers, 55 insurance carriers and 27 private exchanges. In November, the company announced record third quarter financial results.

“I would like to congratulate Benefitfocus for becoming one of the top 10 Cloud HCM applications vendors in our annual Cloud Top 500 survey. Leveraging the ubiquity of the Cloud, Benefitfocus has made great strides in broadening the appeal of HCM applications and reshaping the overall market,” said Albert Pang, president of Apps Run The World.

About Apps Run The World

Apps Run The World is a leading analyst firm devoted to enterprise applications market research. It sizes different segments of the Cloud applications market by quantifying the quarterly revenues of thousands of vendors with an in-house team of researchers who compile and analyze publicly available and privately compiled data including a database of more than 100,000 enterprise applications customers. To see the complete results of the Cloud Top 500 survey, visit https://www.appsruntheworld.com/.

About Benefitfocus

Benefitfocus (NASDAQ: BNFT) provides a leading cloud-based benefits management platform that simplifies how organizations and individuals shop for, enroll in, manage and exchange benefits data. Every day leading employers, insurance companies and millions of consumers rely on our platform to manage, scale and exchange benefits data seamlessly. In an increasingly complex benefits landscape, we bring order to chaos so our clients and their employees have access to better information, make better decisions and lead better lives. Learn more at www.benefitfocus.com, LinkedIn and Twitter.

Except for historical information, all of the statements, expectations, and assumptions contained in this press release are forward-looking statements. Actual results might differ materially from those explicit or implicit in the forward-looking statements. Important factors that could cause actual results to differ materially include: the need to innovate and provide useful products and services; changes in government regulations; the immature and volatile nature of the market for our products and services and other factors that could impact our anticipated growth; management of growth; fluctuations in our financial results; general economic risks; reliance on key personnel; our ability to compete effectively; our ability to maintain our culture and recruit and retain qualified personnel; privacy, security and other risks associated with our business; and the other risk factors set forth from time to time in our SEC filings, copies of which are available free of charge within the Investor Relations section of the Benefitfocus website at http://investor.benefitfocus.com/sec.cfm or upon request from our investor relations department. Benefitfocus assumes no obligation and does not intend to update these forward-looking statements, except as required by law.

View source version on businesswire.com: http://www.businesswire.com/news/home/20151210005139/en/