Health IQ Insurance Services, a Mountain View, CA-based life insurance company for health conscious individuals, secured $34.6m in Series C funding.
The round was led by Andreessen Horowitz. To date, the company has raised a total of $81m mostly from existing investors Charles River Ventures, Ribbit Capital, Foundation Capital, First Round Capital, Felicis Ventures and Western Technology Investments.
The company plans to use the funding to accelerate hiring in its Mountain View and San Diego offices, continue product development and accelerate customer growth.
Led by Munjal Shah, Co-Founder and Chief Executive Officer, Health IQ considers the value of health consciousness for Americans who take responsibility for their health. It does this by delivering better rates and better underwriting for runners, cyclists, swimmers, vegans and people who have a chronic disease but manage it well such as diabetes. While Health IQ works with over 30 carriers to get the best market rate, it has closely partnered with innovative life insurance carriers SBLI, Ameritas and Assurity, and reinsurer partner Swiss Re, to get lower rates for these health conscious people.