Limelight Health, which provides mobile enterprise technology for the health insurance industry, has secured $3 million in Series A funding from MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company (MassMutual), and AXA Strategic Ventures. Also participating in the round is the series seed lead investor LaunchPad Digital Health. The company will use the fresh capital to grow its sales and engineering teams, and to further enhance its cloud-based SaaS platform.
Limelight Health’s QuotePad solution eliminates redundant processes, while providing real-time, analytical functionality.Limelight Health’s first commercial product called QuotePad provides a mobile, data-driven quoting and modeling platform that enables health insurance professionals to simply and quickly quote and compare employee health insurance benefits information. The solution eliminates redundant, paper-based processes, while providing real-time, analytical functionality.
“With $375 billion wasted each year on billing and health insurance paperwork, there is tremendous opportunity for the right technology solution to reduce unnecessary administrative tasks and inefficiencies in workflow,” said Jason T. Andrew, CEO and co-founder, Limelight Health. “MassMutual Ventures and AXA Strategic Ventures, as partners within the insurance industry, share our vision for changing the way insurance does business, focusing our valuable resources on people, not paperwork.”
With the ability to import/export health plan and contribution selections, an API/Open Integration that works with industry software applications, such as CRM, benefits administration, payroll and accounting, Limelight Health is simplifying and integrating previously held manual processes, under an all-in-one, online dashboard platform.