Bluespine, a provider of an AI-powered medical claims cost reduction and analytics platform created to help self-insured employers reduce annual healthcare spending, raised $7.2 million in seed funding.
Team8 led the seed funding round with participation from strategic undisclosed partners.
With fresh funds, Bluespine intends to scale up its solutions to reduce wasteful healthcare spending and empower self-insured employers to better serve the healthcare needs of their employees.
Team8 Managing Partner Rakefet Russak-Aminoach, said: “Bluespine is initially focused on helping self-insured employers to reduce costs and improve employee well-being, but that’s just the tip of the iceberg. With hundreds of billions lost to medical overbilling across sectors – including fully-insured companies and governments – we see a tremendous opportunity for Bluespine to transform the market.”
Founded in 2023, Bluespine is an AI-driven claims cost reduction solution that empowers self-insured employers to lower annual healthcare spending while mitigating financial and legal risks around plan administration.
Since its founding, Bluespine has attracted several large employers, to date including, toy company Mattel and the DavidShield insurance company, and is partnering with insurance brokers, including Alliant Insurance Services, to enhance their capabilities and service offerings.
For more information, click here to read the official press release…