FlexMinder, a Seattle, WA-based startup that aggregates and automates the reimbursement process for healthcare flexible spending accounts (FSAs), closed a $1.4m Series AA financing.
Backers included WRF Capital, Founder’s Co-op and other angel investors.
The company intends to use the capital to complete functionality focused on increasing revenue, scale operations and broaden its national presence.
It currently has commitments from Third Party Administrators with more than 260,000 participants, and the number is growing.
Recently FlexMinder hired five new employees focused on product, development, sales and marketing, and client services to meet current and anticipated demand.
“The response from our customers has been overwhelming,” said
Launched in 2011 and led by Lowell Ricklefs, CEO, FlexMinder is an Enterprise SaaS company that aggregates an individual’s healthcare information from multiple sources and automates the reimbursement process for their FSA healthcare claims through a single portal.
The company is a TechStars 2011 graduate.