New York-based Healthee, a healthcare benefits navigation platform, announced an oversubscribed $50 million Series B funding raise led by Key1 Capital.
Existing investors Group11, Fin Capital and Glilot Capital Partners also participated in the round.
The company said in a statement that it did not formally launch the raise but rather was approached by the round’s lead investor after tracking the company’s progress.
WHAT IT DOES
Healthee offers a platform that answers employees’ questions regarding benefits, coverage and treatment. It also provides open enrollment support and preventative care recommendations.
The company will use the funds to expand its offerings and scale its operations.
“The fact that this round came together without us actively seeking it speaks volumes,” Guy Benjamin, CEO and cofounder of Healthee, said in a statement.
“Our investors see what we see: a massive opportunity to change how employees experience healthcare and how employers deliver it. This funding gives us the resources to accelerate that mission and continue delivering a better, smarter way to navigate benefits.”
MARKET SNAPSHOT
Last year, Healthee scored $32 million in a Series A funding round.
The company launched in 2021 as Insurights, at which time it raised $22 million in seed funding. It was rebranded to Healthee in 2022.
In 2023, Healthee announced a collaboration with human resources company TriNet to provide its customers with access to Healthee’s benefits navigation offerings, including those that help employees choose the right healthcare benefits and navigate existing benefits.
Other companies offering healthcare benefits navigation include Solace, which secured $60 million in Series B funding this month, less than one year after scoring $14 million in Series A funding.
Sharecare also offers a virtual healthcare navigation platform for individuals, employers, government organizations, communities, health plans and providers.
The once publicly traded company was acquired by investment firm Altaris in 2024 in a $518 million deal that saw Sharecare go private.
Other companies in the space include Glen Tullman’s company Transcarent, Rightway and Pebble.
