BeneStream, a New York City-based health tech startup, closed $1.58m in seed funding.
Backers included Serious Change, The Social Entrepreneurs Fund and:
– Angel Round Capital Fund LP (ARC)
– Kevin R. Hill, former Executive VP of Sales and Business Development of Oxford Health
– Esther Dyson, Chairman, EDventure Holdings
– Jeffrey Stephen Wald, Founder, COO and CFO, World Market
– Martin Babinec, Founder, Director, TriNet
– Martin Investment Holdings, LLC
– George V. Duczak, Owner and Founder, The American Worker, and
– Rafael Musher, Founder & CEO of Stax Inc.
Led by Ben Geyerhahn, CEO and Founder, BeneStream employs a combination of screening and monitoring software and a multilingual call center to satisfy the Employee Mandate portion of the Affordable Care Act by handling the enrollment of qualifying employees in Medicaid, rather than private insurance. It provides employers with a platform to assess who among their low-income staff is eligible for Medicaid and then guide qualifying employees through the enrollment process.
The company’s Board of Advisors Andy Stern, Esther Dyson, Kevin Hill, formerly of Oxford Health, Martin Babinec who founded TriNet, and Ashok Subramanian, CEO and Co-founder of Liazon, among others.