TPA Stream, a Cleveland, OH-based healthcare benefits automation company, closed a $1.4m seed funding round.
The round was led by North Coast Angel Fund (NCAF), with participation from JumpStart, Plug and Play, Tamiami Angels and individual angel investors.
The company intends to use the funds to strengthen sales and marketing efforts.
Founded in 2014 by Jacob Sheridan, CEO, TPA Stream is a health insurance administration software company that uses proprietary technology to streamline healthcare administration activities, bridge the gap between disparate data sources and reduce both time and cost for third-party administrators (TPAs), health plans, financial institutions, and payroll vendors.
The company’s explanation of benefits (EOB) harvesting, billing and integration apps work together to simplify data collection, billing, reimbursement, reporting and other administrative tasks associated with benefits processing.
TPA Stream is currently being used by 75 companies across the country.