Jaclyn Chen is the CEO and Co-Founder for Benepass. She developed the idea for Benepass after realizing that there is a disconnect between the cost of benefits to employers and the perceived value of those benefits. On average companies spend 30% of total compensation on benefits; and mostly on benefits their employees do not care about. Jaclyn realized that if companies could offer more flexible benefits they may cost the employer the same but make employees much happier. In founding Benepass she has worked with her co-founders in developing a card-first technology on top of the VISA payment network that allows employees to flexibly spend their benefits. Her technology uses algorithmic decisioning at the point of sale to determine if an expenditure qualifies for the benefit or not. She has been able to sell the platform to companies like Wix, JAMF, and Bright Health. She recently raised a $12 Million Series A from Gradient Ventures and Threshold Ventures to continue to build the product and to expand Benepass's market presence.