Picwell, a Philadelphia, PA- and Washington, DC-based provider of an advanced predictive recommendation engine for health plan selection, closed more than $4m Series A round of funding.
The round was led by MassMutual Ventures, the corporate venture capital arm of Massachusetts Mutual Life Insurance Company (MassMutual), with participation from:
– Trevor Fettter, Chairman and CEO of Tenent Healthcare
– Kevin Hill, Partner at KCH Investments, former Executive Vice President of Sales and Business Strategy at Oxford Health Plans LLC., and former CEO of United Healthcare’s Northeast business line
– Andrew Kress, Founder of HealthVerity and former CEO of SDI Health
– Paul Kusserow, CEO of Amedisys, former Chief Strategy Officer of Humana and Senior Vice President of Corporate Strategy and Ventures of Tenent Healthcare
– Osage University Partners
– Bruce Perkins, former President, Health and Well-being Services for Humana.
The company intends to use the funds to expand operations and accelerate the development of related consumer decision support products.
Led by Jay Silverstein, CEO, Picwell enables insurers, employers, and healthcare exchanges to offer the most appropriate plans to participants based on their individual needs by organizing and analyzing more than 900,000 variables that affect health insurance plan selection.