Dealflow | March 12, 2019

HealthJoy secures $12.5 million to help employees navigate benefits

Jessica Pothering
ImpactAlpha Editor

Jessica Pothering

ImpactAlpha, March 12 – The Chicago-based startup has developed an app to help people manage their employer health benefits packages. Its Series B funding round was backed by Venture Partners, Epic Ventures and prior investors Chicago Ventures and Sidekick Ventures.

HealthJoy launched in 2014 with a mission of simplifying information and guidance for workers in the U.S. as they navigate often confusing health insurance plans. The app allows users to handle insurance claims and track health savings accounts and deductibles. It also identifies prescription drug options and service providers that help them keep costs down.

Founder Justin Holland got the idea when trying to navigate insurance coverage and treatment options for an injury, TechCrunch reports.The company has roughly 200,000 users.