In the United States, paid family leave is not a benefit widely available to private sector employees. Around 27% have access to this type of benefit, leaving large numbers of new parents precariously deciding between their financial stability and time to care for their newborns. Traditional programs like state sponsored ones often exclude many families, while short-term disability insurance provides limited coverage that primarily benefits birthing parents. This leaves a gap that a startup called Parento is aiming to bridge.

Parento is an insurance product specifically designed for paid parental leave. It offers a unique three-in-one solution, incorporating customized insurance coverage, an efficient leave management system, and personalized coaching for parents. This innovative product caters to both birthing and non-birthing parents, and boasts an impressive 95% return-to-work rate, significantly over the industry’s standard 60% rate.

Through its comprehensive and inclusive approach, Parento enables employers to manage costs while simultaneously supporting employees during significant life transitions. It is aiming at a total available market estimated at $43 billion for parental leave solutions.

Parento was founded by Dirk Doebler, who was formerly a CFO of a consumer-packaged goods brand. He saw the insufficiency of existing parental leave solutions from his experience and decided to start Parento. The start-up has raised $5.9M in a Seed II funding round, led by ResilienceVC, with participation from other investors. The platform is specifically targeting small and mid-sized businesses across a variety of sectors.

Parento’s future plans include scaling the team, introducing new automations, partnering with new distribution channels, and aiming to boost their revenue by three to four times.

This innovative parental leave solution comes as a sigh of relief for parents who might be stretched thin fiscally while wanting to take time to care for their newborns. It affords employers to manage their costs while still being supportive of their employees’ needs. Over the course of the near future, Parento plans on launching new products and investing in increasing their brand recognition.

For those who are seeking details regarding paid family leave insurance and its benefits, you may refer to eddcaller.com. The website provides comprehensive information about different insurance policies, including paid family leave insurance. It also offers advice on how to contact SDI, Parento, and other insurance providers, answering queries related to paid family leaves and claims.