HealthCare.com has managed to secure $7.5 million in Series A funding with plan to use the money to build out its consumer interfaces and service offerings, and expand reach in the online healthcare market.
HealthCare.com has provided online healthcare-related services since 2006. Today, it offers the most comprehensive selection of health insurance options in the U.S., including virtually all of the state-based exchange plans, federal exchange plans and many private, off-exchange plans. Using its proprietary technology and tools that continue to develop and expand, HealthCare.com helps consumers compare costs and subsidies for free, and enables them to purchase their insurance online, over the phone with a licensed advisor, or in person with a local agent.
The funding is being led by Jeffery H. Boyd and Robert J. Mylod, Jr, both stemming from priceline.com. Mr. Boyd is Chairman of the Board of The Priceline Group and was its CEO from 2002 to 2013. On the other hand, Mr. Mylod served as Priceline’s CFO from 1998 to 2009 and as its Vice Chairman from 2009 to 2012.
“Jeff Smedsrud [HealthCare.com CEO] and his team are building a powerful, unbiased, comparison shopping tool that allows consumers to find the right plan and choose their preferred method of enrollment,” said Mr. Boyd. “This investment provides resources for continuing to build out HealthCare.com’s infrastructure and interfaces, developing and enhancing products, and growing the brand.”