Cofounder & CEO, Alice
Karnani is co-founder and CEO of Alice, software that helps employees keep more of what they earn while reducing employer payroll taxes. Alice does this by automating pre-tax spending on commuting (such as transit passes and parking) healthcare (such as glasses, contact and copays) and dependent care (such as daycare, summer camps and senior care). Alice connects to an employers’ payroll system, and employees are invited by text message or email to connect their own credit or debit cards.
Why it matters: Karnani started Alice to help employees, particularly hourly workers who don’t have access to high-value benefits, keep more of what they earn without having to do anything different. The software is paying off, the company contends: Employees that use Alice keep, on average, about $600 more per year of what they earned. Meanwhile, employers are reducing their payroll taxes by as much as 12%.