Heather Dawson, co-founder and CEO of Xiggit, aims to help small businesses and the people who work for them share in the...
The Great Resignation
Employees aren’t willing to return to the same old normal.
Businesses need to provide benefits that matter to hourly workers to bring them back to work.
Traditional employer group benefits don't fit hourly workers.
Business owners can't afford $1000+ per employee in benefits cost or spend 20 hours per month managing their benefits plan, leaving 82 million hourly workers without benefits.
Solving the problem of benefits for 82M hourly workers
Xiggit provides employers with a low-cost, administration-free benefits platform that includes a suite of benefits built specifically for hourly workers.
Employees choose the benefits they want in the easy-to-understand Xiggit app, and they take Xiggit with them when they change jobs.
Reduce benefits overhead and increase loyalty
We do the administrative work so employers can focus on what increases their bottom line. Give employees the benefits they need to thrive, be productive, and love their job.
Less stressed employees = higher productivity
Xiggit includes a broad selection of high-quality personal and portable benefits. Employees choose the benefits that meet their individual needs.
- Increases adoption of benefits
- Increases job satisfaction
- Reduces financial stress
- Portable benefits that move with employees to their next job
How it works
- Quick employer setup
Accept your Xiggit invite and go through the registration flow adding company information, bank account, and payroll provider to complete your account. Add any additional payroll administrators as needed.
- Invite employees to access their accounts
Xiggit will auto-enroll your employees and invite them with text and email to get started. They download the app and immediately engage with their benefits. They can opt-out at any time.
- Process funding payroll deductions automatically
Each payroll Xiggit adjusts the employee percentage. We will notify you and move the deductions from your payroll account to your employees' accounts. Fees are moved separately from payroll deductions.
Paid pilot with savings, retirement & boosts
- 5 employers
- 38 subscribers
- $4,000 monthly contributions
Benefits that drive engagement
* MAU = Monthly Active Users ** DAU = Daily Active Users
We are just getting started, more benefits are coming:
Millions of companies employ hourly workers
Big, medium and small companies employ hourly workers. Most have tried traditional benefits; and when they fail, have developed post-traumatic benefits disorder (PTBD). Xiggit offers a cure for PTBD that allows all employers to offer high-quality benefits and remove the big company advantage.
Benefits administration market is ripe for disruption
Companies are offering more benefits, and that makes administration more complex. The $200B+ US benefits administration market is projected to grow 3.4% in 2021.
When benefits that are designed for the 82M hourly workers are available, employees will nudge their employers—and the market will grow even faster.
Xiggit's total available market is $160B (82 million hourly workers * $2,000 per subscriber).
We believe that all employees deserve high-qualify benefits, and that is made possible by curated benefits built for hourly employees, simplified and offered by fintech pioneers.
Employers of hourly workers are underserved
Available options have poor outcomes, before Xiggit.
Outsourced HR with Traditional Benefits
|Cost||$399-$699/month plus the cost of benefits||One benefit is affordable||$10/month plus optional subsidy|
|Benefits||No benefits offered||One||Broad choice|
|Admin||No admin||High admin||No admin|
|Outcome||High employee churn||High employee churn||Low employee churn|
Xiggit is one of the only companies developing high-quality benefits specifically for hourly workers and packaging them to be offered through employers. We promise high employee engagement because we can offer benefits that matter to every employee.
Xiggit gives every working American a path to financial security
We are building benefits from the ground up for low-moderate income hourly workers.
Over the next few years, we plan to fully develop our platform—adding more benefits and enhancing our app to deliver highly engaging, yet simple and informative content. In short, we’ll become the benefits-as-a-service platform that offers employers the best ROI, and the preferred benefits provider that employees ask for by name.
Planning to raise
$500K in SAFE
The company has raised $189,624 from the founders and angel investors.
The founding team has bootstrapped to build the prototype and pilot.
Cofounder & CEO
1010data, Runa and IBM
Serial entrepreneur: Executive role in three company exits; one at $500 million. 20 years delivering high growth results in SaaS companies.
Cofounder & CPO
Visa and PayPal
Fintech vet: 15 years payment services experience, responsible for client-side product design and delivery that drove high consumer adoption for Visa Checkout.
We were founded by two women, serial entrepreneurs, and have grown to include fintech programmers, consumer behavior strategists, social impact leaders, and human resource experts.
We've come together because of a shared mission: to build financial resilience within working communities and improve the outcomes of Americans. Too many of our friends, family and local community members go to bed every night stressed by not knowing how they will survive a $500 unexpected expense. For them, "retirement" is a pipe dream.