First Dollar, an Austin, Texas-based human-centric health care savings platform, closed a seed funding round of $5M.
The round was led by Next Coast Ventures with participation from Meridian Street Capital.
Backers included former athenahealth CEO Jonathan Bush, Everlywell CEO Julia Cheek, Bright Health CTO Brian Gambs and Capital Factory.
The company intends to use the funds to recruit a top team of engineers and designers to scale the HSA offering and build new functionality for its platform.
Co-founded in October 2019 by Jason Bornhorst and Colin Anawaty, First Dollar provides a platform for people to save for out-of-pocket expenses and find health care for a fair price. The company targets Millennials and Gen Z, a generally healthy population that typically spends too much per year for more coverage than they need.