Maxwell Health raised $26.4 million in funding this week, increasing Maxwell Health's total funding to $36 million. Maxwell's funding round was led by Adams Street Partners, Cambia Health Solutions, and Schooner Capital.
Maxwell Health offers a web-based tool to assist companies and employees in shopping for, enrolling in, and managing healthcare benefits. Maxwell Health's tool allows users to find a specialist, schedule appointments, determine which drugs their policy covers, speak with a registered nurse, and examine potential billing errors.
5 Maxwell Health Competitors Simplifying Healthcare ManagementUsing DataFox, we compiled a watchlist of companies providing enterprise solutions to simplify the enrollment and management of healthcare benefits.
Maxwell Health offers an operating system for employee benefits. Maxwell's fully paperless, mobile-enabled tech platform includes a time- and money-saving personal health advocate, a turnkey, fun wellness program that rewards employee health, and a mobile app that acts as a virtual health card. Maxwell works with brokerage firms, carriers, and TPAs to bring the Maxwell difference to their employer clients.
- Founded: 2012
- Location: Boston, MA
- Total Funding: $34.4 million
- Recent Funding: $26.4 million in December 2014
- Investors: Adams Street Partners; BoxGroup; Vaizra Investments; Catalyst Health & Technology Partners; Tribeca Venture Partners; Serious Change; Lerer Ventures BoxGroup; TiE Angels; Vaizra Investments
- Notable: Maxwell Health partners or has relationships with Doctors on Demand, Care.com, ZenPayroll, SilkRoad, and BamboodHR to improve how companies and employees understand their healthcare options.
Zenefits gives managers and their employees a single place to manage all their HR — payroll, health care benefits, compliance, and more — in an online dashboard. Zenefits connects a company's payroll, health insurance, paid time off, and other HR systems in just a few seconds without having to change vendors, plans, or pricing. Zenefits currently provides services to more than 2,000 companies with more than 50,000 employees.
- Founded: 2013
- Location: San Francisco, CA
- Total Funding: $83.6 million
- Recent Funding: $66.5 million in June 2014
- Investors: Hydrazine Capital; SV Angel; Institutional Venture Partners; Andreessen Horowitz; Maverick Capital; Venrock
Castlight Health provides a set of applications and services that enable employers to deliver cost-effective benefits, provide medical professionals and health plans a merit-based market to showcase their services, and empower employees to make informed healthcare choices with a clear understanding of costs and likely outcomes. Castlight's applications and services are powered by the Castlight Platform and the Castlight Data Interchange, which provide a comprehensive and diverse database of healthcare pricing, quality, and outcome data.
- Founded: 2008
- Location: San Francisco, CA
- Total Funding: IPO in March 2014
- Notable: Castlight recently published an analysis of U.S. employees healthcare search behaviors.
Change Healthcare provides healthcare consumer engagement and cost transparency enabling consumers to better understand and utilize their healthcare benefits; make informed healthcare purchasing decisions based on quality, cost and convenience; and manage higher out-of-pocket responsibility and realize savings.
- Founded: 2007
- Location: Brentwood, TN
- Total Funding: Acquired by Emdeon in November 2014 for $135 million
Spotlite is changing the way employees shop for benefits. Spotlite offers cloud-based technology solutions enabling consumer-driven benefits success for employees, employers, carriers and brokers. Spotlite Choice, the company's flagship product, provides employee benefits education, decision support and enrollment system for core and voluntary benefits. Spotlite Central is a plug-and-play system that streamlines administration of benefit offerings with a sophisticated data exchange system that enables easy integration, minimal disruption, total accuracy and maximum security.
- Founded: 2012
- Location: Chicago, IL
- Total Funding: Funding not disclosed
- Notable: Spotlite derives its consumer experience orientation from its PerkSpot origin. PerkSpot, founded in 2006, is a leading online perks and rewards platform now serving 3.5 million employees.
Benefitfocus provides a cloud-based platform for employers, insurance carriers and consumers to shop, enroll, manage and exchange benefits information. Benefitfocus' platform allows for the enrollment for more than 100 types of benefits, HR management and reporting tools, online bill presentment and payment, data exchange and payroll integration, and apps for voluntary benefits, finance, and wellness.
- Founded: 2000
- Location: Charleston, SC
- Total Funding: IPO in September 2013