- Zipari announced a strategic growth investment from Thoma Bravo. And now the company is valued at over $500 million.
Zipari – the company behind the first and only consumer experience platform built specifically for health insurance – announced a strategic growth investment from Thoma Bravo, a leading private equity investment firm focused on the software and technology-enabled services sector. And through this investment valuing the company at over half a billion dollars, Zipari will combine with Healthx – a provider of trusted healthcare engagement technologies, to create the leading CX platform and solutions for health insurance payers and third-party administrators.
The company will remain headquartered in Brooklyn, New York. And Zipari founder and CEO Mark Nathan will continue to lead the business.
Zipari is now going to serve nearly 200 clients with a suite of more than 20 products designed to help payers lower healthcare costs and improve ROI by ensuring an efficient and meaningful connection between payers, members, and providers. And through its investment and expertise in healthcare IT, Thoma Bravo expects to play a central role in accelerating Zipari’s growth strategy. Thoma Bravo is going to partner with Zipari to strengthen client success and delivery, broaden the company’s products and solutions, drive faster innovation and further expand the company’s combined customer base.
KEY QUOTES:
“This is an exciting day for Zipari and the culmination of six years of evolution and innovation for healthcare payers. We are very excited to begin our next chapter of growth. I’m especially excited to welcome new colleagues from Healthx and the talent and expertise they bring to our combined company. This transaction opens up new opportunities for our clients and enables payers and TPAs of all sizes to create breakthrough experiences for their consumers. We look forward to working closely with Thoma Bravo as we develop a strategic roadmap for integration and migration that advantages our clients and addresses the diverse needs of the marketplace.”
— Mark Nathan, CEO of Zipari
“We are excited to join Zipari and move our common mission forward. This combination will offer our clients the most comprehensive platform in the market and our team looks forward to working together to deliver just that.”
— Mark Rapoport, Healthx CEO
“At a time when healthcare accessibility is so important, the combination of two premier healthcare IT platforms will allow payers to have the technology they need to improve health outcomes and deliver great experiences for their consumers. We look forward to applying Thoma Bravo’s capital and significant experience in healthcare technology to support Zipari as it continues to grow and deliver innovative products to its newly expanded client base.”
— AJ Jangalapalli, a Principal at Thoma Bravo
“We are thrilled to be partnering with Zipari at this pivotal moment in the company’s growth journey. This strategic growth investment represents a powerful combination of industry leading healthcare IT platforms that drive better consumer experiences in healthcare.”
— Hudson Smith, a Partner at Thoma Bravo
“Zipari has been at the forefront of innovation in consumer experience for healthcare payers for years. We are eager to continue our partnership with Mark and his team, as well as with Thoma Bravo to keep solving some of the toughest challenges facing payers and consumers today.”
— Saurabh Bhansali, a Partner at Health Velocity Capital
“Zipari’s success illustrates the power of a vertical cloud solution, built specifically for the payer market.”
— Dave Schwab, Founder and Managing Director of Vertical Venture Partners (an original investor in Zipari)
