Parento Closes $5.9M Seed Round To Solve Parental Leave

Parento, a company focused on addressing the paid parental leave crisis in the United States, today announced it has successfully raised $5,900,000 in a new funding round. This significant investment will enable Parento to expand its innovative solutions for employers navigating the complexities of parental leave policies. The capital infusion underscores growing investor confidence in the company's mission to provide accessible and comprehensive support for working parents. Parento offers gender-neutral paid parental leave insurance, providing a pioneering suite of customizable products. This solution allows employers to implement generous paid parental leave programs affordably and with ease, mitigating the financial cost, risk, and management burdens for HR, payroll, and finance departments. A key feature of Parento's program is its integrated, proactive one-on-one emotional and parent coaching, designed to enhance the employee experience. The service is available nationwide to employers with 10 to 10,000 employees. The company's holistic approach to paid parental leave is directly linked to increases in employee retention, workplace diversity, productivity, and parental emotional wellness, addressing a critical need as paid parental leave becomes a deal breaker for today's family-first generation. Parento's platform helps companies retain, attract, and promote working parents, particularly working mothers. The recently secured funding is expected to accelerate Parento’s efforts to scale its operations, enhance its product offerings, and expand its reach to more employers nationwide. Parento plans to use the capital to further its growth initiatives, ensuring its programs continue to meet the evolving needs of the modern workforce. This investment solidifies Parento’s position in the market as it continues to support working parents and empower businesses with effective, compassionate leave solutions, driving significant growth in the coming years.