Modern Health Savings Account Company Lively Raises $80 Million

By Annie Baker ● Oct 17, 2021
  • Lively – the creators of a modern health savings account (HSA) program – announced an $80 million Series C round. These are the details.

Lively – the creators of a modern health savings account (HSA) program – announced an $80 million Series C round. This round was led by B Capital Group with participation from Telstra Ventures and existing investor, Costanoa Ventures.

This round brings the company’s total funding to over $120 million. And it will be used to accelerate its mission of helping millions of Americans save for healthcare and retirement.

Over the last year, Lively has experienced rapid growth through all facets of its business, paving the way for the future of health savings accounts. And within the last 4 months alone, the company has partnered with BMO Harris, received an IRS Non-Bank Trustee designation, and surpassed $500 million in HSA assets. This momentum – paired with the latest round of funding – cements Lively’s position as the fastest-growing HSA provider and reaffirms its leading approach.

According to Devenir, HSA assets have doubled in the last 3 years to $82.2 billion held in over 30 million accounts, despite how unusual 2020 was for consumers and health spending. And there has never been a more critical time to put better tools in their triple-tax advantaged toolbox.

The additional funding will enable Lively to further invest in its consumer-centric platform and foster more relationships with America’s top financial institutions. And it will expand Lively’s offerings to encompass all of the healthcare and financial tools Americans need to maximize their finances and overall livelihood. Lively will continue offering a personalized and modernized version of healthcare spending with tailored customer service and unique partnerships not found anywhere else in the industry.


“We are growing 4x faster than legacy incumbents and will cross $1B in assets early next year, becoming the fastest HSA provider to do so, ever. This newest round of funding enables us to continue on our mission to help Americans prepare for the rising cost of healthcare both today and into the future.”

Alex Cyriac, CEO and co-founder of Lively

Lively’s product is what the modern healthcare experience should be, and their approach represents the future of the HSA. Their commitment to a customer-centric strategy, combined with Alex Cyriac’s vision for the evolution of the HSA, make Lively the perfect fit for our portfolio of innovative healthcare companies.

– Robert Mittendorff MD, General Partner at B Capital Group