Castlight Health, a San Francisco, CA-based that provides companies with a hosted software tool aimed to allow employees to take control of their health care expenses, has raised $60m in Series C funding.
The round included new investors The Wellcome Trust, Morgan Stanley Investment Management, U.S. Venture Partners, and Cleveland Clinic, as well as existing investors Maverick Capital, Oak Investment Partners and Venrock.
The new funds will be used to accelerate hiring and further product development in order to serve the company’s initial customers.
Delivered as a Web-based service, Castlight Health provides employees with data useful to make informed health care shopping decisions. The service delivers alerts about cost saving opportunities and additional information about physicians and procedures.