Thatch AI – a modern digital health benefits management platform for startups – raised over $6 million in Seed funding.
Andreessen Horowitz and GV (formerly Google Ventures), a venture capital investment arm of Alphabet, led the seed funding round with participation from Lux Capital, Quiet Capital, and Not Boring Capital (Packy McCormick).
With new funds, the startup plans to hire new talents, build its benefits platform, and grow its business operations.
Paying for healthcare is painful, but it shouldn’t be
Commenting on the funding news, the Thatch team said: The entire experience of paying for healthcare could be better, both for businesses and their employees. From covering premiums, to fighting denied claims and misbillings, to saving for future expenses, the process today is a huge mess. You can read more about some of the problems we faced ourselves and why we built Thatch in our founding story.
Thatch aims to make it easy for startups to offer amazing healthcare to their teams in a few minutes. We give employees a unified, tech-forward experience for healthcare spending and saving by layering on top of any health plan. The net result is that employees love their benefits, and startups spend less time managing the burden associated with providing them.
According to our database, digital health companies providing employee health benefits solutions have raised $5 billion in funding to date.
The latest funding rounds in health benefits include:
HealthJoy, a healthcare navigation platform that simplifies healthcare and benefits experience for employees, raised $60 million in Series D funding. Valspring Capital led the investment round with participation from new investors Endeavour Vision, CIBC Innovation Banking, and existing investors US Venture Partners, GoHealth co-founders Brandon Cruz and Clint Jones, Health Velocity Capital, Nueterra Capital, and Epic.
Pebble, a digital employee health benefits service for plans startups, raised $12 million in Seed funding led by XYZ Venture Capital, with participation from Founders’ Co-op.
