What You Ought to Know:
– Vericred, the information providers platform powering digital quote-to-card experiences in medical health insurance and advantages, introduced $23M in Collection B funding led by Aquiline Know-how Development with participation from new buyers Echo Well being Ventures, MassMutual Ventures, Guardian Strategic Ventures, and present buyers Riverside Acceleration Capital, FCA Enterprise Companions and First Well being Capital Companions.
– The corporate plans to make use of the brand new capital to broaden its groups in New York, NY and Omaha, NE, additional construct its advertising and marketing and gross sales capabilities, and exponentially develop the group of individuals on its market-leading platform, laying the inspiration for a united, digitally linked advantages ecosystem.
Enabling Digital-Quote-To-Card Requires Infrastructure
Based in 2014, Vericred affords a full suite of APIs throughout medical, life, dental, imaginative and prescient and different strains of protection that energy quoting, enrollment, member administration, and renewals on multi-carrier InsurTech and BenTech platforms. Vericred’s options simplify the advanced means of exchanging knowledge with a number of companions. By successfully eradicating a crucial barrier to industry-wide digital transformation, Vericred allows a real digital quote-to-card expertise.
Up to now, greater than 300 carriers, together with {industry} leaders Cigna, Guardian, Humana, MetLife, Principal, Kaiser and 100+ InsurTech corporations together with Rippling, Gusto, Ease, and Specifically have joined Vericred’s platform, creating a strong community impact and establishing an essential channel to deliver new merchandise and innovation to market.
“At present’s announcement showcases the market’s clear endorsement of Vericred’s crucial improvements in medical health insurance and worker advantages. We’re proud to have attracted the very best caliber of enterprise and strategic buyers, surpassing the objectives we initially set out for this fundraise,” mentioned Michael W. Levin, CEO and Co-founder of Vericred. “We’re excited to accomplice with these main buyers who share our imaginative and prescient for constructing a simplified approach for all individuals in the advantages ecosystem to attach, talk, and trade knowledge quickly and precisely.”