Collective Health, a San Mateo, CA-based provider of an employer-sponsored health insurance platform, raised $38m in Series B financing.
The round was led by Founders Fund and New Enterprise Associates, with participation from Formation 8, Redpoint Ventures, RRE Ventures, Subtraction Capital and Rock Health.
The company intends to use the funds to increase adoption of its platform.
Founded in October 2013 by Ali Diab, CEO, Collective Health provides a self-insurance platform which enables organizations and their consultants to design, administer and optimize employee health benefit programs leveraging data science and technology.
The company is currently serving California based employers, and will be expanding its geographic coverage nationally during the year.