Vericred, a NYC-based data services platform powering digital quote-to-card experiences in health insurance and benefits, closed a $23m Series B round of funding.
The round was led by Aquiline Technology Growth with participation from new investors Echo Health Ventures, MassMutual Ventures, Guardian Strategic Ventures, and existing investors Riverside Acceleration Capital, FCA Venture Partners and First Health Capital Partners. In connection with this funding round, Vericred added Max Chee, Aquiline Technology Growth, and Jessica Zeaske, PhD, a Partner at Echo Health Ventures, to its board of directors.
The company intends to use the funds to expand its teams in New York, NY and Omaha, NE, further build its marketing and sales functions, and grow the community of participants on its platform.
Led by Michael W. Levin, CEO and Co-founder, Vericred offers a full suite of APIs across medical, life, dental, vision and other lines of coverage that power quoting, enrollment, member management, and renewals on multi-carrier InsurTech and BenTech platforms.
More than 300 carriers, including Cigna, Guardian, Humana, MetLife, Principal, Kaiser and 100+ InsurTech companies including Rippling, Gusto, Ease, and Namely have joined Vericred’s platform.