FlexMinder, a Seattle, WA-based startup that automates costly manual healthcare reimbursement processes, closed a $1.2m funding round.
Backers included Rudy Gadre, Founders Co-op, AOA, WRF Capital and Walt Winshall.
The company intends to use the funds to execute a large (up to $12m annually) contract recently secured. Rollout of the new contract started this month and has included development, sales and support for pending embedded Medical Expense Management solutions.
Led by Lowell Ricklefs, CEO, Emma Cochrane, COO, Noele Emmons, Director of Client Services, and Cindy Hughes, Marketing Manager, FlexMinder provides a platform for third party administrators (TPAs) to handle claims, and consumers to manage the claims submission process.
The company, which participated in the TechStars incubator program, had raised $1.4m in Series AA financing in January 2013 (read here).