SimplyInsured, a San Francisco-based small business health insurance marketplace and administrative platform, raised $5.9m in Series A funding.
Backers included Polaris Partners, Bessemer Venture Partners, Altair.VC and Corazon Capital. In conjunction with the funding, Gary Swart of Polaris Venture Partners, joined SimplyInsured’s board of directors.
The company will use the funding to expand sales and marketing efforts, and hire across sales, marketing and engineering.
Launched in 2013 out of the Y Combinator program by Vivek Shah, Founder and CEO, SimplyInsured offers a technology solution that allows small businesses to shop for health insurance policies from insurance providers and administer those programs online.