Gravie co-founder and co-CEO of Gravie Abir Sen
Gravie, a Minneapolis-based well being advantages firm, introduced as we speak that it has closed on $75 million in a Series E spherical of financing, elevating extra in a single spherical than the corporate has raised in all prior financing rounds mixed.
The financing spherical was led by Georgian, a growth-stage investor primarily based in Canada, with participation from present traders FirstMark Capital, AXA Venture Partners, Split Rock Partners, and Revelation Partners.
The capital shall be used to gas Gravie’s continued development by way of investments in all areas of the corporate, together with product and expertise, gross sales and advertising and marketing, and growth into new markets by way of new and present distribution channels, in keeping with a information launch asserting the financing spherical.
“Gravie is targeted on rebuilding the patron expertise in healthcare from the bottom-up, and creating well being advantages options which can be sustainable long-term for employers,” co-founder and co-CEO of Gravie Abir Sen stated in the discharge. “Georgian’s expertise with related applied sciences, and the information and platform property they convey to bear, shall be instrumental as we construct towards our imaginative and prescient for the longer term.”
This is the biggest quantity the corporate has raised in a financing spherical. Gravie’s second-largest was its Series D financing spherical that closed in March 2021 elevating $28 million. Gravie has now raised a complete of $146 million in fairness financing.
The firm was based in 2013. Its flagship product, Comfort, is billed because the first-ever “zero deductible, zero copay” well being plan for most of the commonest healthcare providers together with major and preventive care, psychological well being care, specialist visits, labs and imaging, generic prescriptions, and on-line care.
The firm’s latest investor Georgian claims to supply greater than the normal enterprise capital firm. On prime of its financial funding, Georgian presents its portfolio of firms a platform of machine studying and AI instruments to assist scale innovation and operations and deepen buyer relationships.
“We are proud to companion with Gravie as they convey much-needed innovation to the well being advantages business,” Georgian’s lead investor Tyson Baber stated in an announcement. “The workforce’s capacity to quickly scale the enterprise whereas sustaining enticing unit economics is spectacular. We look ahead to working with them to construct a permanent firm that can enhance healthcare for all.”
https://tcbmag.com/gravie-raises-75m-in-series-e-financing/
