SimplyInsured, a San Francisco CA-based small business health insurance startup, raised $1.75m in seed funding.
Backers included Starling Capital, Altair.vc and Y Combinator.
Founded in 2012 by CEO Vivek Shah, SimplyInsured leverages a proprietary algorithm to recommend health insurance plans to small businesses and their employees. Small business owners can manage health benefits, payroll deductions, taxes, and compliance on one dashboard.
Plans are presented in plain English with no insurance jargon.
The company currently serves clients across all 50 states and says that it helps businesses save up to $1,000 per employee per year.
Other investors included founders of NerdWallet Jake Gibson and Tim Chen, Amee and Adil Chaudry, and Sam Melamed.