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Benefits startup Decisely secures $60M from Two Sigma, EPIC Insurance

HR solutions and benefits insurance provider Decisely has secured $60 million in funding.

The startup secured commitments from Two Sigma Private Investments and EPIC Insurance Brokers and Consultants, a portfolio company of the Carlyle Group LP.

The company plans to use the funding to grow its services and for potential acquisitions, Decisely CEO Kevin Dunn told The Wall Street Journal.

Alpharetta, Ga.-based Decisely competes with health benefits broker Zenefits and PlanSource Holdings Inc., a provider of cloud-based benefits administration and human capital management software, according to the report. Zenefits is reportedly laying off nearly half of its workforce as part of a cost-cutting plan to make its operations more efficient.