Sorbet Overview
Sorbet is a financial technology solution that offers a way for professionals to use unusable, accrued time-off more effectively while providing their employers with full financial flexibility to reduce vacation accruals, save on financing costs, and optimize their cash flow.
Cumulative Funding Raised Over Time ($)
$15.0M
$21.0MApr 2021
$46.0MJun 2025
Latest News
growth-negative
The vacation-day monetization platform says profitability pressure forced a reset of operations, resulting in the laying off of all of its employees in Israel and most of its staff in the U.S.
Sorbet, an Israeli fintech company, has laid off all its employees in Israel and most of its U.S. staff due to profitability pressures. The company, which has raised over $25 million, developed a platform to convert vacation days into cash, targeting a $270 billion market in the U.S. Despite challenges, Sorbet maintains partnerships with fintech players like Chime, MoneyLion, and Brightside, and serves large corporations such as Amazon, Walmart, and USPS. The company aims to restructure and become profitable by leveraging its assets and distribution channels.
LayoffsInvestmentCustomersPartners
growth-positive
Sorbet Secures $25 Million Debt Facility from Pier Asset Management and Debuts New Payroll Integration Feature to Expand Access to Financial Flexibility for Employees
Sorbet, a fintech platform that enables employees to access the financial value of their unused Paid Time Off (PTO), has secured a $25 million debt facility from Pier Asset Management. This funding will help Sorbet meet the growing demand for its services amid economic challenges. Sorbets platform uses AI to offer low-risk loans based on PTO, and it has received over 200,000 applications, unlocking more than $75 million in PTO value. The company is also enhancing its product by integrating with Pinwheel, allowing users to connect their accounts to payroll systems for seamless repayments. This development aims to expand Sorbets reach and provide financial flexibility to more employees.
InvestmentPartnersProduct Stage
growth-positive
Just deserts: Sorbet unlocks employee PTO CTech
Sorbet, a startup that optimizes Paid Time Off (PTO) for employees, is helping both employees and employers get the most out of PTO. The companys platform allows employees to take or spend their unused PTO, saving the company money. The startup was founded by Veetahl Eilat-Raichel, Rami Kasterstein, and Eliaz Shapira. Sorbet has raised a total of $21 million in seed funding and currently has nearly 60 employees. The company operates in the U.S. and Australia, offering its services through employers HR departments.
InvestmentExpand
growth-positive
Paid time off startup Sorbet reels in another $15M inside three months
Sorbet, a U.S./Israeli startup that helps companies de-risk themselves against accrued paid time off (PTO) by employees, has raised $15 million in funding led by Group 11. The company removes the burden of PTO from employers by buying out PTO liabilities from employees and loading the cash value on prepaid credit cards. Sorbet then refinances these liabilities for employers, giving them more control and forecasting advantage. The funding will be used to expand and accelerate the companys growth. Group 11, the leading investor, sees a massive market opportunity in Sorbets solution.
Investment
growth-positive
This new Israeli startup helps employees turn vacation days into cash money
Israeli startup Sorbet aims to address the issue of unused vacation days by buying the commitment to pay vacation days from employers and liquidating them for a price. This relieves the accounting burden for companies and allows employees to use their accrued vacation days without having to quit or get fired. Sorbets platform interfaces with organizational systems and provides companies with analysis of unused vacation days. The company has no direct competitors and has closed a $6 million Seed funding round from Viola Ventures, Global Founders Capital, and Meron Capital. Sorbet is currently in pilot at five different companies and plans to convert pilot customers into paying customers in June.
Customers
| Sector | Fintech & Insurtech |
Funding
| Total funding | $21M |
| Last funding | $25M |
| Stage | Seed |
| Rounds | 3 |
| Investors | 6 |
Team Members
6
Employees: 51-200
Web & Social Links
| Website | www.getsorbet.com/ |
| Careers | Careers page |
Locations
Tel Aviv, Israel
New York, NY, USA
Photos & Videos
1 item(s)
Sorbet Business
Business models
B2B
Product stage
Released
Employees
51-200
Sector
Fintech & InsurtechTarget Customer
Enterprise & Professional ServicesCore Technology
Platforms & InterfacesSoftwareMobileTags (7)
employee-engagemententerprise-solutionsenterprisesproductivityhrhr-techmanagement-solutionsGeographic Markets
South AfricaUnited StatesUkraineIsraelSorbet Financials
$21M
Total funding
Undisclosed
Capital raised
$25M
Last funding
Seed
Funding stage
3
Total rounds
6
Investors
Cumulative Funding Raised Over Time ($)
$15.0M
$21.0MApr 2021
$46.0MJun 2025
Private Equity Funding
Debt Financing
Jun 2025
$25M
Pier Asset Management (Lead)
Seed
Apr 2021
$6M
Viola Ventures (Lead)
,
Meron Capital, Global Founders Capital
Seed
$15M
Group 11 (Lead)
,
Viola Ventures, Corner Ventures
Sorbet Lifecycle
Cumulative Funding Raised Over Time
$15.0M
$21.0MApr 2021
$46.0MJun 2025
All Events
Debt Financing
Jun 2025
$25M
Pier Asset Management (Lead)
Seed
Apr 2021
$6M
Viola Ventures (Lead)
,
Meron Capital, Global Founders Capital
Seed
$15M
Group 11 (Lead)
,
Viola Ventures, Corner Ventures
Sorbet News
6 articles
growth-negative
The vacation-day monetization platform says profitability pressure forced a reset of operations, resulting in the laying off of all of its employees in Israel and most of its staff in the U.S.
Sorbet, an Israeli fintech company, has laid off all its employees in Israel and most of its U.S. staff due to profitability pressures. The company, which has raised over $25 million, developed a platform to convert vacation days into cash, targeting a $270 billion market in the U.S. Despite challenges, Sorbet maintains partnerships with fintech players like Chime, MoneyLion, and Brightside, and serves large corporations such as Amazon, Walmart, and USPS. The company aims to restructure and become profitable by leveraging its assets and distribution channels.
LayoffsInvestmentCustomersPartners
growth-positive
Sorbet Secures $25 Million Debt Facility from Pier Asset Management and Debuts New Payroll Integration Feature to Expand Access to Financial Flexibility for Employees
Sorbet, a fintech platform that enables employees to access the financial value of their unused Paid Time Off (PTO), has secured a $25 million debt facility from Pier Asset Management. This funding will help Sorbet meet the growing demand for its services amid economic challenges. Sorbets platform uses AI to offer low-risk loans based on PTO, and it has received over 200,000 applications, unlocking more than $75 million in PTO value. The company is also enhancing its product by integrating with Pinwheel, allowing users to connect their accounts to payroll systems for seamless repayments. This development aims to expand Sorbets reach and provide financial flexibility to more employees.
InvestmentPartnersProduct Stage
growth-positive
Just deserts: Sorbet unlocks employee PTO CTech
Sorbet, a startup that optimizes Paid Time Off (PTO) for employees, is helping both employees and employers get the most out of PTO. The companys platform allows employees to take or spend their unused PTO, saving the company money. The startup was founded by Veetahl Eilat-Raichel, Rami Kasterstein, and Eliaz Shapira. Sorbet has raised a total of $21 million in seed funding and currently has nearly 60 employees. The company operates in the U.S. and Australia, offering its services through employers HR departments.
InvestmentExpand
growth-positive
Paid time off startup Sorbet reels in another $15M inside three months
Sorbet, a U.S./Israeli startup that helps companies de-risk themselves against accrued paid time off (PTO) by employees, has raised $15 million in funding led by Group 11. The company removes the burden of PTO from employers by buying out PTO liabilities from employees and loading the cash value on prepaid credit cards. Sorbet then refinances these liabilities for employers, giving them more control and forecasting advantage. The funding will be used to expand and accelerate the companys growth. Group 11, the leading investor, sees a massive market opportunity in Sorbets solution.
Investment
growth-positive
This new Israeli startup helps employees turn vacation days into cash money
Israeli startup Sorbet aims to address the issue of unused vacation days by buying the commitment to pay vacation days from employers and liquidating them for a price. This relieves the accounting burden for companies and allows employees to use their accrued vacation days without having to quit or get fired. Sorbets platform interfaces with organizational systems and provides companies with analysis of unused vacation days. The company has no direct competitors and has closed a $6 million Seed funding round from Viola Ventures, Global Founders Capital, and Meron Capital. Sorbet is currently in pilot at five different companies and plans to convert pilot customers into paying customers in June.
Customers
growth-positive
Sorbet raises $6M seed led by Viola Ventures to tackle the thorny financials of paid time off
Sorbet, a U.S./Israeli startup, has raised $6 million in a seed funding round led by Viola Ventures. The company tackles the financial risks associated with employees paid time off (PTO) by taking on the burden from employers and allowing employees to spend it. Sorbet buys out PTO liabilities from employees and loads the cash value of the PTO on prepaid credit cards for the employees. The platform syncs with calendars, HR and payroll systems, and suggests personalized breaks and vacations, increasing PTO usage by up to 15%. The funding will help Sorbet expand its services and provide financial benefits to employees.
Investment
Sorbet Team
Veetahl Eilat-Raichel
Co-founder & CEO
Founder
Employee Info
| Employees (range) | 51-200 |
| Exact count | 164 |
| Team members | 6 |
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Sorbet Internal
Recent Updates
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Admin Info
| Confidence | 101/100 |
| Missing | markets |
| BI Verification | Maor Perlov |
| Registrar ID | 516084407 |
| Creator | Maor Perlov |
| Creator email | maorperlov@gmail.com |
| Last updater | Dana Arnon |
| Updater email | dana.arnon@mail.huji.ac.il |
| Last update | 2022-08-09T00:00:00.000Z |
| Created | 2020-12-31T00:00:00.000Z |
| Claimed | Yes |