Level, a New York-based benefits startup founded in 2018, has shut down after an acquisition deal fell through, leading to the termination of its operations. The company, which specialized in dental and vision insurance for employers, laid off the majority of its workforce, retaining only a small team to assist customers through the transition. While exact figures on employee count and layoff percentages are not specified in the report, the closure was announced abruptly in early January 2025, following the collapse of last-minute acquisition efforts. This event highlights the challenges faced by startups in the competitive insurtech and employee benefits industry, particularly those reliant on funding or exit strategies to sustain operations.
