- Gravie recently announced it raised $75 million in Series E funding. These are the details.
Gravie – a leading health benefits company – recently announced that it has raised $75 million in a Series E round of financing led by Georgian, a growth-stage investor based in Canada, with participation from existing investors FirstMark Capital, AXA Venture Partners, Split Rock Partners, and Revelation Partners. And the funding will be used to fuel Gravie’s continued growth through investments in all areas of the company including product and technology, sales and marketing, and expansion into new markets through new and existing distribution channels.
Since the company’s founding in 2013, Gravie has been on an accelerating growth trajectory as it designs innovative employer-sponsored benefits solutions that put employees’ needs at the center of the healthcare ecosystem. And its flagship product Comfort has revolutionized the traditional benefits model, providing a first-of-its-kind comprehensive health plan that eliminates copays and deductibles on most common healthcare services including primary and preventive care, mental health care, specialist visits, labs and imaging, generic prescriptions, online care, and more – all at a cost comparable to plans from legacy insurance carriers.
KEY QUOTES:
“Gravie is focused on rebuilding the consumer experience in healthcare from the bottom-up, and creating health benefits solutions that are sustainable long-term for employers. Georgian’s experience with relevant technologies, and the data and platform assets they bring to bear, will be instrumental as we build toward our vision for the future.”
— Abir Sen, co-founder and co-CEO of Gravie
“We are proud to partner with Gravie as they bring much-needed innovation to the health benefits industry. The team’s ability to rapidly scale the business while maintaining attractive unit economics is impressive. We look forward to working with them to build an enduring company that will improve healthcare for all.”
— Tyson Baber, lead investor, Georgian
