Insurtech startup HealthCare.com scores $18 million Series B to help consumers find better health insurance coverage
HealthCare.com, an insurtech startup and nation’s preeminent source helping consumers compare and enroll in health insurance and Medicare plans, has secured $18 million in Series B funding to fund technology, engineering and data-science investments, expand consumer experience solutions and accelerate the development and marketing of its proprietary insurance products. The round, which brings the total capital raised to over $27 million, led by Second Alpha Partners, with participation from AXIS Capital and CNO Financial Group.
HealthCare.com is not a broker or agent on the sale of insurance products. Instead, the startup is an independent, advertising-supported website publisher and provides a consumer comparison service. The company may earn revenue for leads, clicks, calls and application generated, and may be compensated by its advertisers for sponsored products and services.
HealthCare.com was founded in 2014 and is led by a team of technology and insurance industry veterans including co-founders Howard Yeh, Jeff Smedsrud and Jose Vargas. To date the company has raised over $27 million from a diverse group of investors including Jeff Boyd, chairman of Booking Holdings, and PeopleFund. Healthcare.com will use the additional capital to fund technology, engineering and data-science investments, expand consumer experience solutions and accelerate the development and marketing of its proprietary insurance products.
“We recognize the massive opportunity and are committed to help consumers deal with the increasing complexities and costs of health insurance,” added Jose Vargas, co-founder and president of HealthCare.com. “We are pleased and honored to have the backing of investors who share our values and mission to become the pioneer tech-enabled destination for consumers to compare and enroll in health insurance and Medicare plans.”
“Second Alpha is pleased to back HealthCare.com and its entire team, who have demonstrated market leadership and momentum while building a sustainable and profitable InsurTech company,” said Jim Sanger, managing partner of Second Alpha Partners. “Applying technology and data to help consumers navigate and enroll in the best health insurance or Medicare plan is a massive and exciting opportunity.”