Integrity has acquired Stride for an undisclosed amount. Stride simplifies the complexities of being an independent worker by solving their biggest healthcare, savings, and tax benefits challenges. This acquisition marks a significant expansion for Integrity into the rapidly growing independent workforce sector.
Stride’s core offering is a portable benefits system that enables companies to contribute to individual workers’ benefits accounts. This system allows workers, regardless of their employment status, to manage their benefits independently and take them along as their work arrangements change. Stride has established a robust network, partnering with over 130 organizations, including leading work platforms, employers, and service providers of non-benefited workers such as Uber, Amazon, DoorDash, Instacart, Lyft, Grubhub, Patreon, Care.com, Gusto, Homebase, TaskRabbit, Recording Academy, and ShiftKey. The company had previously raised $96 million in capital from investors including Venrock, New Enterprise Associates, F-Prime Capital, Mastercard, Allstate, and King River.
The acquisition is strategically significant, allowing Integrity to integrate Stride's specialized platform and extensive partner ecosystem. This move is expected to enhance Integrity's capabilities in providing comprehensive solutions for companies supporting non-benefited workers and to broaden its reach within the gig and independent economy. Synergies are anticipated through combining Integrity's resources with Stride's established technology and market presence, aiming to deliver more robust and accessible benefits solutions to a wider audience.
The combined entity is poised to address the evolving needs of the modern workforce, offering a broader suite of benefits and financial tools to independent professionals and the organizations that engage them. This strategic integration is expected to strengthen Integrity's position in the benefits technology landscape, particularly for the dynamic independent worker market.