HealthCare.com, a New York City and Miami, Florida-based provider of data-driven insurtech platform, raised $180m in financing.
In details, the company closed:
- a $130m Senior Non-Convertible Preferred, and
- more than $50m of Series C Preferred equity in an round led by funds managed by Oaktree Capital Management, L.P. with participation from existing investors Axis Capital, Second Alpha and Link Ventures and founders.
The company plans to accelerate its investment in data science, product development, and engineering and will also hire for several key roles.
Led by Don Loonam, Chief Executive Officer, HealthCare.com leverages its deep data assets and AI algorithms to matche individuals to a wide array of products in the healthcare space, including its own proprietary insurance plans and customizable insurance product bundles. The data-driven platform includes multi-product purchase options in one single transaction.
HealthCare.com’s distributed workforce of more than 370 employees is based in more than 15 states, as well as Guatemala, Thailand, and the Netherlands. The original co-founders of HealthCare.com, including Jeff Smedsrud, Jose Vargas and Howard Yeh all remain active in senior leadership roles within the company.
In conjunction with the financing round, Brian Laibow, Managing Director and Co-Head of North America for Oaktree’s Global Opportunities strategy, and Linda Ventresca, Chief Strategy Officer for AXIS Capital, a leader in specialty insurance and global reinsurance, have joined the HealthCare.com Board of Directors.
FinSMEs
13/12/2021