Connecture Raises $20M Funding

Connecture, a Brookfield, Wisconsin-based provider of Web-based information systems used to create health insurance marketplaces and exchanges, has raised a $20m funding.

The round was led by Great Point Partners, LLC, with participation from existing investor Chrysalis Ventures.

Founded in 1997 and led by Doug Schneider, CEO, Connecture develops software designed to streamline and simplify the health insurance distribution process.

The company intends to use the proceeds from the investment to expand and meet the demand from states for the creation of health insurance exchanges mandated by the Patient Protection and Affordable Care Act (PPACA) and advance its software.
Connecture recently announced its plans to develop health insurance exchanges in Maryland and Minnesota, and to hire more than 100 Java developers.



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