Hixme, an Agoura Hills, CA-based worker-owned health benefit platform, raised $14.1m in Series B funding.
The round was led by Propel Venture Partners, BBVA’s outside venture fund, with participation from Kleiner Perkins Caufield and Byers (KPCB), joined by Transamerica Ventures and Rosemark Capital. In conjunction with the funding, Thomas Whiteaker of Propel Venture Partners and Chris Kuenne of Rosemark Capital will be joining the Hixme board.
The company, which has raised $26.6m in total funding, intends to use the funds to promote the “Hixme Bundle” product, the “Workplace Market” platform, increase sales and geographic presence, expanding their capabilities to serve employers in all 50 states.
Led by CEO Denny Weinberg, Hixme leverages innovative technology to offer worker-owned health benefits for large organizations. The company’s platform allows workers and their families to choose and personally own benefits they uniquely value and large company clients to reduce administrative complexity and costs.
The Hixme Bundle product integrates medical insurance with gap insurances and monetary features such as bill settlement and gap financing to cover workers and their families against the risk of unpredictable healthcare occurrences. The Workplace Market platform combines technology and predictive algorithms that enable each worker and family member to choose tailored coverage that they then own.
To bring the platform and the products to market, the company is partnering with Transamerica, Silicon Valley Bank, Kashable and PayMD to create a fully integrated solution.