Benefitfocus Wins Gold in the 2017 Brandon Hall Group Excellence Awards in Technology

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CHARLESTON, S.C., Dec. 21, 2017 /PRNewswire/ — Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits management software, today announced the BENEFITFOCUS? Marketplace won a Brandon Hall Group gold medal award for the Best Advance in Compensation and Benefits and/or Payroll Administration category. More than 903 large employers currently use Benefitfocus Marketplace, which Benefitfocus updated this year to include more sophisticated analytics, algorithms and cost estimator tools for improved insight into benefit costs and usage.

“We’re at a juncture where designing a more creative benefits program that manages cost while providing for an increasingly diverse, multi-generational workforce – and each person’s unique situation and needs – is more important than ever,” said Ray August, President & COO, Benefitfocus. “We are thrilled to be recognized by Brandon Hall for our data-driven tools that give employers and employees better insight into their benefits options.”

A panel of independent senior industry experts and?Brandon Hall Group?senior analysts and executives evaluated the entries based the product’s breakthrough innovations, unique differentiators, value proposition and measurable results and benefits for customers.

“Human capital management is evolving faster than at any time in its history, and it is powered by innovative technology developed and implemented by organizations big and small,” said Rachel Cooke, Chief Operating Officer of Brandon Hall Group and head of the awards program. “The technology innovators who won Excellence Awards this year were focused on providing users with a better overall experience. That is what our research says employers want, and our award winners are leading the way.”

Mike Cooke, Chief Executive Officer of Brandon Hall Group, said, “Our technology award winners are truly outstanding and set a high bar for others. We have learned a great deal from what they have accomplished. The awards programs supplement our quantitative research in providing our team with unique insights to share with our members and clients.”

Learn more about Benefitfocus’ solutions at www.benefitfocus.com/solutions.

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.? Every day leading employers, insurance companies and the consumers they serve 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 or performance 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; our ability to compete effectively; 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 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.

Benefitfocus Announces New Additions to Executive Leadership Team

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Strengthens executive leadership team with the addition of new Executive Vice President of Global Sales and Chief Financial Officer

Charleston, S.C. – July 17, 2017 – Benefitfocus, Inc. (NASDAQ: BNFT), a leading provider of cloud-based benefits management software, today announced that Robert Dahdah has been appointed to the newly created role of Executive Vice President of Global Sales and that Jonathon E. Dussault will join the company as Chief Financial Officer on August 14, 2017. Both Mr. Dahdah and Mr. Dussault bring extensive leadership experience to Benefitfocus as the company continues to expand its client base, introduce new solutions and simplify benefits management for employers, insurance carriers, brokers and employees.

“We’re thrilled to welcome Robert and Jonathon to the executive team,” said Benefitfocus Co-Founder and Chief Executive Officer, Shawn Jenkins. “Our market opportunity is massive and we’re excited to add such talented leaders as Robert and Jonathon to our company as we leverage their deep experience to grow our vibrant customer community.”

Mr. Dahdah brings to Benefitfocus over 20 years of experience in the Software as a Service, human capital management technology, and payroll sectors. As Executive Vice President of Global Sales, he will be responsible for designing the company’s overall sales strategy and leading the company’s sales teams. Mr. Dahdah joins Benefitfocus from Verizon Telematics, Inc., one of the world’s largest SaaS IoT providers, where he served as Senior Vice President, Global Sales. Prior to that, Mr. Dahdah served in multiple roles at Automatic Data Processing, Inc. (NASDAQ: ADP), most recently as its Senior Vice President, Sales – Global Enterprise Solutions International, where he led sales and distribution for over 100 countries outside of the United States. During his tenure with the company he also led the global sales operations team. Mr. Dahdah holds a B.S. in marketing management from Syracuse University.

Mr. Dussault brings to Benefitfocus extensive strategic and financial leadership experience in the benefits technology sector. Most recently, he served as Senior Vice President and Senior Finance Officer of WEX Health, Inc. (formerly Evolution1, Inc.), a leading provider of cloud-based Health Savings Account technology and payment solutions for the healthcare industry and a subsidiary of global payments processing company, WEX Inc. (NYSE: WEX). Prior to that, Mr. Dussault served in multiple roles at Evolution1, most recently as Chief Financial Officer, until its acquisition by WEX. Earlier in his career, Mr. Dussault was Vice President of Corporate Development at Women’s Health USA and was responsible for financial planning and analysis at Open Solutions, Inc. Mr. Dussault began his career at Arthur Andersen LLP. He holds a B.S. in accounting from Babson College and earned his CPA certification in Massachusetts.

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. Every day, leading employers, insurance companies and the consumers they serve 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: our ability to maintain our culture and recruit and retain qualified personnel; reliance on key personnel; management of growth; our ability to adequately and effectively expand our direct sales force; 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; fluctuations in our financial results; our ability to develop and maintain adequate financial controls; general economic risks; our ability to compete effectively; 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.

Benefitfocus Ranked Number 483 Fastest Growing Company in North America on Deloitte’s 2016 Technology Fast 500?

The recognition follows the company’s recent quarterly results including:

  • Ended the quarter with 827 large employer customers, up from 703 at the end of the year ago period and 803 at the end of the second quarter of 2016.
  • Signed 6 new national accounts with more than 10,000 lives during the third quarter.
  • Announced major platform upgrades in its Autumn 2016 Software Release. This latest release gives consumers on the BENEFITFOCUS? Platform the ability to complete open enrollment on their mobile device using the BENEFITFOCUS? App or directly through the mobile optimize BENEFITFOCUS? Marketplace.

“We continue to develop our technology platform so that employers, insurance carriers and the consumers they serve have the ability to stay ahead of unprecedented change and uncertainty in the health care and employee benefits industries,” said Shawn Jenkins, Chief Executive Officer of Benefitfocus. “Many are realizing the significant advantages of adopting a modern enterprise benefits management platform to improve plan design, increase employee engagement, reduce administrative burdens and encourage a more personalized benefits experience for associates. We’re honored to be recognized by Deloitte’s Technology Fast 500 and share this success with our customers, associates and stakeholders, who all echo our commitment to improving lives through better benefits information.”

“Today, when every organization can be a tech company, the most effective businesses not only foster the courage to explore change, but also encourage creativity in using and applying existing assets in new ways, as resourcefully as possible,” said Sandra Shirai, principal, Deloitte Consulting LLP and U.S. technology, media and telecommunications industry leader. “This ingenious approach to innovation calls for the encouragement of curiosity and collaboration both within and outside the office walls.”

“This year’s Fast 500 winners showcase that when organizations are open to diverse perspectives and insights, they are able to create an environment for their employees and customers to see the possibilities and ingenious solutions that might lie ahead,” added Jim Atwell, national managing partner of the emerging growth company practice, Deloitte & Touche LLP. “Entrepreneurial environments foster change and innovation within businesses, and we look forward to watching these companies continue to drive change across all sectors.”

Overall, 2016 Technology Fast 500? companies achieved revenue growth ranging from 121 percent to 66,661 percent from 2012 to 2015, with median growth of 290 percent.

Learn more about Benefitfocus’ solutions at www.benefitfocus.com/solutions.

About Deloitte’s 2016 Technology Fast 500?

Deloitte’s Technology Fast 500 provides a ranking of the fastest growing technology, media, telecommunications, life sciences and energy tech companies – both public and private – in North America. Technology Fast 500 award winners are selected based on percentage fiscal year revenue growth from 2012 to 2015.

In order to be eligible for Technology Fast 500 recognition, companies must own proprietary intellectual property or technology that is sold to customers in products that contribute to a majority of the company’s operating revenues. Companies must have base-year operating revenues of at least $50,000 USD, and current-year operating revenues of at least $5 million USD. Additionally, companies must be in business for a minimum of four years and be headquartered within North America.

As used in this document, “Deloitte” means Deloitte LLP and its subsidiaries. Please see www.deloitte.com/us/about for a detailed description of the legal structure of Deloitte LLP and its subsidiaries. Certain services may not be available to attest clients under the rules and regulations of public accounting.

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.?Every day leading employers, insurance companies and the consumers they serve 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.

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