Lightyear Capital Announces a Strategic Investment in Corestream to Accelerate the Future of Voluntary Benefits

July 7, 2026

Investment to support Corestream’s next phase of product innovation, platform expansion, and ecosystem growth

Lightyear Capital LLC (“Lightyear”) today announced a strategic investment in Corestream (“the Company”), a leading voluntary benefits and employee savings technology platform, to support Corestream’s continued growth and mission to build the most trusted voluntary benefits experience for employers, employees, brokers, carriers and partners.

Founded in 2006, Corestream automates the full voluntary benefits lifecycle, from selection and enrollment through billing, reconciliation and ongoing administration, through a single platform integrating with HRIS, payroll and carrier systems. The Company serves over 6 million employees and reconciled more than $500 million in payroll premiums in 2025.

Lightyear’s investment will fuel continued innovation in product, technology infrastructure and partner connectivity, all in service of delivering a best-in-class benefits experience that makes it easier than ever for employees to access, understand and enroll in the benefits that matter most to them.

“We are excited to partner with Neil and the Corestream team,” said Mark Vassallo, Managing Partner at Lightyear. “Corestream has built a differentiated platform in a category that continues to grow as employers seek better ways to support employees, expand benefits choice and address gaps in core insurance coverage. Lightyear’s experience across healthcare, insurance, brokerage, fintech, payments and enterprise technology aligns directly with Corestream’s opportunity to simplify a complex ecosystem and scale a market-leading platform.”

“In Lightyear, we found a partner that understands the complexity of our market and the scale of the opportunity ahead,” said Neil Vaswani, Co-Founder and Chief Executive Officer of Corestream. “This investment is about much more than capital. It is a strategic investment in our product, our platform, our people and our vision for what voluntary benefits can become. Our ambition is to move beyond transactional benefits distribution and build a trusted, long-term relationship with employees. We want to help them understand their options, make more confident decisions and access benefits that are relevant to their lives. We also want to create better outcomes for every participant in the ecosystem, from employers and employees to brokers, carriers and partners. If every stakeholder wins, the ecosystem scales. I am excited to combine Lightyear’s deep domain expertise with the continued partnership and support of LLR Partners (“LLR”). Having two incredible investors by our side gives us a powerful platform to take Corestream to the next level.”

Michael Langer, Partner at Lightyear, said, “Voluntary benefits have become an increasingly important part of the modern employee value proposition, but the market remains fragmented and difficult to navigate. Corestream is the only privately owned, pure-play voluntary benefits technology company to achieve this level of scale. The Company has the technology, relationships and management team to take the category to the next level. We are excited to support Corestream as it continues to invest in innovation and expand its leadership position.”

LLR, Corestream’s existing investor, will continue to support the Company alongside Lightyear and the Corestream management team. Together, the two investment partners will help accelerate Corestream’s next phase of growth.

“It has been a privilege to support Neil and the Corestream team and we are grateful for their partnership. Since LLR’s investment in 2019, Corestream has grown significantly and established itself as a market leader, enabling employers to offer voluntary benefits at scale and employees to better understand and access the benefits that matter most to them,” said Sasank Aleti, Partner at LLR. “We are excited to continue supporting Corestream alongside Lightyear as they further strengthen the Company’s leadership position.”

Davis Polk & Wardwell LLP served as legal counsel to Lightyear. TripleTree, LLC served as the Company’s exclusive financial advisor and Dechert LLP served as legal counsel to Corestream. Terms of the transaction were not disclosed.

About Corestream
Corestream is a leading voluntary benefits and employee savings technology platform that helps employers deliver a simpler, more connected and more effective benefits experience. Corestream’s SaaS platform gives HR professionals, employees, brokers and carriers a single point of integration to streamline and automate voluntary benefits selection, enrollment, administration, billing, reconciliation and ongoing management at scale. Headquartered in Tampa, Florida, Corestream supports many of the largest employers in the United States. For more information, please visit www.corestream.com.

About Lightyear Capital
Lightyear Capital is a New York-based private equity firm that partners with growing companies at the nexus of financial services and technology, healthcare and business services. For over 25 years, Lightyear has worked closely with management teams and leveraged its industry expertise, network of advisors and operating resources to help accelerate growth and build market-leading businesses. Lightyear has significant experience across fintech, insurance, brokerage, healthcare, payments and technology-enabled services. As of December 31, 2025, the firm had assets under management of approximately $8.1 billion. For more information, please visit www.lycap.com.