Limelight Health, a San Francisco, CA-based quoting, underwriting, and proposal platform for the employee benefits industry, raised $33.5m in series C funding.
The round led by Principal Life, with participation from AXA Venture Partners, MassMutual Ventures, Aflac Ventures, Transamerica Ventures, Wells Fargo Strategic Capital (a division of Wells Fargo Commercial Capital), LaunchPad Digital Health, and Wanxiang America Healthcare Investments.
The company will use the funds for product development, customer acquisition, global expansion and hiring efforts. It will be enhancing product features to include more automation, enhanced workflow, an underwriter certification program, as well as risk scores based on data sets for better underwriting.
Led by CEO and co-founder Jason T. Andrew, Limelight Health is a provider of cloud-based enterprise software solutions delivering quoting & underwriting platform for the employee benefits industry, including carriers, underwriters, sales executives, agents, advisors, and their customers. Its platform offers a range of microservices that are configurable for business needs including quoting, rating, proposal generation, renewals, automated processing for pre-sales, new business, underwriting, enrollment support, data analysis, reporting, consumer delivery and agent self-service, document management and integration with industry systems and services.
The company also has satellite locations in Redding, California and Des Moines, Iowa and a remote workforce.