- Zorro announced that it has raised $11.5 million in funding to optimize health benefits.
Zorro – a company that is optimizing the health benefits experience for employees, employers, and brokers – announced it is launching out of stealth along with an $11.5 million seed funding round co-led by Pitango and 10D. This funding round will be used for further expanding R&D efforts and scaling customer operations.
The process of providing employee benefits is complicated. And for employers and brokers, offering benefits can lead to unpredictable budgets, endless administration, and a distraction from the core business. And for employees, health benefits are generic and usually out of their control.
Zorro’s platform analyzes employers’ benefit objectives to create a top-down predictable budget and benefits allowance per employee or group of employees. And it also provides an end-to-end insurance management solution that offers a single and comprehensive platform making administering benefits seamless and effective. Plus Zorro acts as a financial companion and analyzes employees’ healthcare needs, family situations, risk tolerance, and other personal characteristics. Then it generates a recommended benefit bundle consisting of health insurance, supplemental coverages, specialized digital health solutions, and other financial value-add services.
KEY QUOTES:
“Zorro sits at the exciting intersection of the healthcare and financial sectors, and we’re proud to have developed a technology that makes offering employee health insurance plans more transparent, cost-effective, and personalized. Our solution flips the outdated health benefits model upside down and gives employers predictability while providing employees with the coverage that best fits their needs. The multi-disciplinary expertise that exists among the Zorro team members, including in healthcare, insuretech, software, and big data, is a unique asset that allows us to accomplish our important mission of improving access to quality and affordable healthcare.”
— Guy Ezekiel, CEO and co-founder of Zorro
“Zorro’s founders have leveraged their strong backgrounds in healthcare, financial investments, and technology to address an unmet need in the market. This new model that simplifies the employee health benefit selection process will undoubtedly see quick adoption by small to medium-sized businesses due to its ease of use and immediate return on investment.”
— Rami Kalish, Managing Partner and Co-Founder of Pitango
“Almost 90% of employers plan to make changes to their health vendor partnerships in the next two years but are still lacking the tools to offer employees personalized health insurance. By prioritizing the health and financial requirements of employees, Zorro is putting the employee in control to ensure maximum and ideal insurance coverage.”
— Yahal Zilka, Managing Partner, at 10D
